European Stocks Close Firmly Higher
European stocks closed firmly higher on Thursday, trimming losses from the week as markets assessed the latest economic data and anticipated potential policy maneuvers by the incoming Trump administration in the US.
The Eurozone’s Stoxx 50 added 0.6% to close at 4,759 and the pan-European Stoxx 600 added 0.5% to close at 507.3. preliminary inflation figures for Germany came below expectations, with the national annual rate rising to 2.2% and the EU-harmonized rate unexpectedly steadying at 2.4%. Figures for Spain came in line with expectations, with both the national and the harmonized annual rates rising to 2.4% due to low base effects from last year.
Tech booked gains on reports that incoming curbs on the Chinese semiconductor sector by the US might not be as tight as feared, lifting ASML by 2.6%. Also, Airbus added 4.2% on reports that it will receive jet engines from CFM to aid in its annual targets.
Source: Trading Economics
