European Stocks Surge: Real Estate Leads Despite Economic Stagnation
The European benchmark index reached a record high, driven by real estate stocks, amid expectations of further ECB monetary policy easing. Despite economic stagnation, investors cheered on strong corporate earnings and M&A news. German and Spanish indices showed notable gains, while technology stocks rebounded.
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Europe's benchmark index soared to a record high on Thursday, with real estate stocks at the forefront, as the European Central Bank hinted at more monetary policy easing this year.
The ECB cut interest rates by 25 basis points to 2.75%, overshadowing inflation concerns in favor of tackling sluggish economic growth.
In contrast, the U.S. Federal Reserve chose to keep rates stable. Strong corporate earnings and merger news fueled investor optimism across the STOXX 600 and national indices in Germany and Spain.
(With inputs from agencies.)
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