European Stocks Rise, STOXX 600 Hits Record High
European equities traded higher on Thursday, with the STOXX 50 gaining 0.3% to 6,415 points, while the broader STOXX 600 climbed to a fresh all-time high of 665 points, as market sentiment continued to benefit from a strong third-quarter earnings season and easing energy prices. According to Deutsche Bank, earnings growth among STOXX 600 companies accelerated from 22% to 28%, marking the strongest pace in four years. Meanwhile, Brent crude traded around $93 a barrel, well below its recent highs, while European natural gas prices also declined as increased flows from the Gulf and easing concerns over a renewed escalation in the conflict helped calm markets. On the economic front, data from the UK's Office for National Statistics (ONS) showed that the economy expanded by 0.7% in the third quarter, up from 0.5% in the previous quarter and in line with market expectations. September GDP also grew by 0.2%, exceeding forecasts.
European equities traded higher on Thursday, with the STOXX 50 gaining 0.3% to 6,415 points, while the broader STOXX 600 climbed to a fresh all-time high of 665 points, as market sentiment continued to benefit from a strong third-quarter earnings season and easing energy prices. According to Deutsche Bank, earnings growth among STOXX 600 companies accelerated from 22% to 28%, marking the strongest pace in four years. Meanwhile, Brent crude traded around $93 a barrel, well below its recent highs, while European natural gas prices also declined as increased flows from the Gulf and easing concerns over a renewed escalation in the conflict helped calm markets.
On the economic front, data from the UK's Office for National Statistics (ONS) showed that the economy expanded by 0.7% in the third quarter, up from 0.5% in the previous quarter and in line with market expectations. September GDP also grew by 0.2%, exceeding forecasts.