German stocks were poised for a stable start on Thursday, buoyed by oil prices holding steadier after a sharp advance, though the European Central Bank's interest-rate decision later in the session was expected to determine the day's final tone.
The X-Dax indicated a small gain of around 25 points at 25,607 one hour before the opening bell, following a steep pullback the previous day that pushed the DAX to its lowest level since late July. That decline had been weighed down by Brent crude surging above $100 a barrel.
The EuroStoxx 50 was also forecast to open on a steady note.
Most analysts expected the ECB to deliver its second interest-rate increase this year, lifting the key rate to 2.50%. Higher borrowing costs tend to pressure equity valuations by raising company financing costs, making capital projects more expensive and boosting the relative appeal of bonds.
"What matters is the ECB's forward guidance. Markets currently expect further rate rises and two additional steps next year," said Thomas Altmann of QC Partners.
In pre-market trading on Tradegate, analyst commentary drove individual names. Shares of gearbox maker Renk fell about 2% after Exane BNP downgraded it to "neutral." Rheinmetall also retreated on a negative comment from JPMorgan. Gainers included RWE, Porsche AG, MTU Aero Engines and DHL, which all rose ahead of trade on positive notes from US investment banks.
