European Stocks Track Global Peers Higher
Major European bourses traded higher on Wednesday, with the STOXX 50 up 0.7% and the STOXX 600 gaining 0.4%, mirroring the positive global mood as traders increased bets on a Federal Reserve rate cut next month.
Softer US economic data and further signals from Fed officials supporting additional easing added to the optimism. Investors were also awaiting UK Chancellor Rachel Reeves’ budget presentation. Markets were additionally monitoring developments in Ukraine after President Volodymyr Zelenskiy said he was prepared to advance a US-backed framework for ending the war with Russia.
ASML Holding (+2.8%), L’Oréal (+1.4%) and Siemens Energy (+2.5%) posted solid gains, while SAP (-0.2%) and Nestlé (-0.9%) traded lower.
Source: Tradingeconomics.com