European markets mixed ahead of BOE decision; Swiss National Bank cuts rates; Hapag-Lloyd profit drops 19%

European markets were mixed on Thursday, as investors monitor monetary policy announcements from the Bank of England, Swiss National Bank and Sweden’s Riksbank.

The regional Stoxx 600 was 0.12% higher at 8:30 a.m. U.K. time as major bourses diverged, with France’s CAC 40 down 0.2% as the U.K.’s FTSE 100 rose 0.35%. The Stoxx 600 has closed higher for the last four sessions, rebounding from last week’s 1.22% loss.

The Swiss franc was flat against the euro and slightly lower against the U.S. dollar after the SNB cut its key interest rate by a quarter percentage point to 0.25%. Swiss annual inflation fell to an almost four-year low of 0.3% in February.

Shares of Hapag-Lloyd were down 5% after the shipping firm said it expected lower net income in 2025 amid geopolitical challenges.

Germany’s DAX snapped a winning run on Wednesday and shed another 0.36% Thursday morning. Investors appeared to “buy the rumor, sell the fact” after lawmakers on Tuesday voted to allow exemptions to the country’s longstanding debt rules, unlocking hundreds of billions in defense, infrastructure and climate spending. The potential for the reform had so far driven strong gains in German industrial, manufacturing and defense names this month.

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Thursday’s flurry of European central bank activity comes after the U.S. Federal Reserve on Wednesday held its key rates, while indicating two quarter percentage point cuts are likely later this year despite the uncertainty presented by U.S. President Donald Trump’s trade policy.

Trump’s volatile tariff announcements and threats will also be considered by global central banks for their potential impact on global growth, inflation and currency markets. The Bank of England is widely expected to hold rates at its March meeting despite weak economic growth. Sweden’s Riksbank is seen holding rates steady.