Stocks, Euro Steady Ahead of ECB, Crude Tumbles

A man holding an umbrella is silhouetted as he walks in front of an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average in Tokyo, Japan, on July 14, 2022. Issei Kato/Reuters

LONDON—Stock markets and the euro held their ground on Thursday with investor nerves steadied by the resumption of Russian gas supplies to Europe as they waited for what is expected to be the European Central Bank’s first interest rate hike in 11 years.

The flow of Russian gas resumed to Germany after a 10-day outage, easing fears of a potential blow to the European economy if gas supplies have to be rationed.