British News Agency

According to the analysts, the FTSE 100 in the UK was up 69 points at 8,321, the DAX in Germany was 115 points higher at 18,860, the CAC in France was up 70 points at 7,522, and the FTSE MIB 350 in Italy was 33,980.

U.S. stocks initially jumped after the Fed announced a jumbo 50 basis point cut to interest rates, bringing its target range to 4.75 percent to 5.00 percent. However, markets ultimately closed lower amid concerns of a potential economic downturn. U.S. futures were seen lower overnight.

Trading in Asia-Pacific Thursday was choppy following the announcement, but stocks ultimately rose during Thursday’s session.

In Europe, investor attention is now turning to the Bank of England, with the central bank largely expected to hold rates steady at 5 percent. According to economists, the Fed’s jumbo rate cut is unlikely to impact the Bank of England, as the central bank ratified its decision around lunchtime Wednesday, hours before the U.S. announcement.

Additionally, fresh data showed Wednesday that inflation in the U.K.’s closely watched services sector remains stubbornly higher, likely prompting caution from policymakers.

Also, Norway’s central bank will deliver its latest interest rate decision on Thursday. In terms of corporate earnings, British retailer Next will post its half-year results.