FTSE 100 Opens Flat as Europe Observes May Day Holiday

The FTSE 100 index opened with little change on Thursday, maintaining its position at 8,498.86 by 9:01 am CET. This stability comes as most major European markets remained closed in observance of the May 1 public holiday.

Euro Zone GDP Growth Surpasses Expectations

Market optimism was bolstered by positive euro zone GDP data, which revealed a 0.4% expansion in the first quarter, exceeding forecasts. This growth has contributed to a buoyant market sentiment, further supported by strong earnings reports from leading banks such as UBS, Deutsche Bank, and Barclays.

Currency Movements Reflect Market Dynamics

At 8:59 am CET, the euro experienced a slight decline of 0.24% against the US dollar, trading at $1.13013. Similarly, the British pound saw a decrease of 0.30%, settling at $1.32891.