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Optimism about economic recovery boosts European stocks

By Sagarika Jaisinghani and Shreyashi Sanyal

Jun 24 (.) – European stocks rose on Thursday as investors focused on a steady economic rebound amid fears about a decline in monetary stimulus around the world, in a session in which the technology sector advanced following the trend. example of its American counterpart.

* The pan-European STOXX 600 Index gained 0.9%, helped by tech, retail, and travel & leisure stocks.

* Tech stocks advanced 1.7%, in line with the Nasdaq index gains on Wall Street, with high tech weight.

* The benchmark STOXX 600 index has seen sharp swings this week, with losses on Wednesday almost erasing gains from the previous two days, after mixed messages from the US Federal Reserve raised questions among investors about the approach. of central banks to reduce their massive stimulus in the face of rising inflation.

* However, with the European Central Bank reaffirming its ultra-lax stance on monetary policy earlier this month, analysts said they did not expect European stocks to continue falling.

* “As the ECB is adamant that it is not the time to consider withdrawing support for monetary policy yet, we do not expect (Wednesday’s declines) to lead to a reversal trend” of progress, said Charalambos Pissouros, analyst JFD Group Market Senior.

* German stocks rose 0.9% following data that showed the business sentiment index rose more than expected in June and reached its highest level since November 2018.

* “Ifo’s strong reading sets the bar for future growth even higher,” said Carsten Brzeski, global director of macro at ING. “Right now, the sky is the limit for confidence indicators in Germany and indeed the entire euro zone.”

(Edited in Spanish by Rodrigo Charme)

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