ECB

European stocks recovered from morning losses as oil prices declined, while the Bank of England and European Central Bank maintained current interest rates. This monetary policy stability affects technology sector valuations and investment flows in European markets.

OVHcloud was selected as the sovereign cloud provider for the European Central Bank's digital euro project. This selection positions OVHcloud to support Europe's central bank digital currency infrastructure, potentially influencing the competitive landscape for sovereign cloud services.

European Central Bank President Christine Lagarde indicated the ECB is prepared to raise interest rates even if an expected inflation surge proves temporary. This signals a more hawkish monetary policy stance that could increase borrowing costs for technology companies and reduce investment in growth sectors.