Markets didn't react much to the ECB's decision to hike the three key interest rates by 50bp, instead of the standard 0.25%.
Today, all eyes will be on the earnings reports from Twitter, Verizon and American Express, as investors look for clues on how well corporate America is coping with high inflation and a strong greenback.
This morning, the UK's FTSE 100 was up 0.3%, lifted by oil companies and miners, as commodity prices bounced back.
Banks are underperforming due to fears of an economic slowdown in Europe due to Italy's political crisis and the ECB raising rates by 0.5%.
Among stocks, BT Group inched up 0.5% after the UK's competition watchdog approved a deal to merge its sports broadcasting business with Warner Bros Discovery.
Things to read today:
EU solidarity frays as some member states question plan to slash gas use (Financial Times)
Inside Team Truss: slow off the mark but catching up fast in race for No 10 (The Guardian)