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Published: Tuesday 27 August, 2013

cheap clothing stores cheap clothing stores ?Euro shares firm before rate decisions

European equities edged higher in cautious deals before interest rate decisions in both Britain and the eurozone, and on the eve of major US data, dealers said.

In late morning deals, Londons FTSE 100 index of top companies rose 0. cheap clothing stores 08 per cent to 6,424.46 points, Frankfurts DAX 30 gained 0.20 per cent to 8,2 cheap clothing stores 13.08 points, and in Paris the CAC 40 was up 0.38 per cent at 3,867.33 points.

Market participants are treading carefully ahead of key events which include policy meetings by both the Bank of England and the European Central bank, said ETX Capital trader Ishaq Siddiqi.

No changes on policies expected by both central banks but traders are still nervous about any surprises, particularly from the ECB.

At 1100 GMT, the Bank of England is widely expected to keep recordlow British interest rates at 0.50 per cent, and refrain from altering its quantitative easing stimulus scheme.

The BoEs June gathering will be the last for governor Mervyn King, who will be replaced by Canadas Mark Carney at the start of July.

Shortly afterwards, at 1145 GMT, the European Central Bank is forecast to refrain from further policy moves, after slashing its key lending rate to an alltime low of 0.50 per cent last month.

Analysts will focus instead on ECB chief Mario Draghis press conference for fresh clues on how the bank will combat the eurozones ongoing recession, dealers said.

On Friday meanwhile, markets will digest the vital US nonfarm payrolls NFP data for hints on the health of the worlds biggest economy.

Traders may be tempted to sit on their hands in the short term with the NFP due for release tomorrow, said Mike McCudden, head of derivatives at stockbroker Interactive Investor.

Theres also central bank verdicts due from b cheap clothing stores oth London and Frankfurt in the coming hours although with no change expected . it is going to be more about picking over the content of Draghis press conference for any subtleties if traders are hoping to find some fresh direction. cheap clothing stores