European shares close up after ECB rate cut

Lululemon Athletica shares rose on Wall Street after the company beat expectations for first-quarter profit and revenue. Photograph: Casey Steffens/The New York Times

“Overall, there are likely to be further rate cuts in this cycle as disinflation has made huge progress and is set to continue, but the path of the rate cuts is difficult to pinpoint, as economic growth is on a better footing again,” said Janet Mui, head of market analysis at wealth manager RBC Brewin Dolphin.Aer Lingus pilots to vote on strikes while ECB prepares to cut rateswas a weak spot, falling 1.8 per cent to €17.89.

German enterprise software giant SAP rose 3.6 per cent after chief executive Christian Klein gave encouraging guidance for 2026 and 2027. The stock topped Germany’s DAX 40, which closed 0.4 per cent up.Rate-sensitive sectors like utilities and real estate were among the laggards, falling 0.9 per cent and 0.6 per cent, respectively.

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