Reuters
Shares of auto manufacturers raised the German “DAX” index to a record high today, while the leading stocks in the euro area jumped to pre-pandemic levels, after the Federal Reserve pledges.
The German “DAX” index of leading stocks rose 0.7 percent, the French “CAC 40” index rose 0.2 percent, while the British “Financial Times 100” index fell 0.1 percent, ahead of the Bank of England’s monetary policy decision later today.
The broader European “STOXX 600” index rose 0.3 percent, and was trading below its all-time high, with less than 2 percent.
The rise came after the US Federal Reserve pledged to keep interest rates low, despite expectations of further economic growth.
With US 10-year Treasury yields soaring after the council’s decision, stocks in highly economically vulnerable sectors, such as auto manufacturers, banks, mining, travel and entertainment companies, led the gains in Europe.
Source: Reuters
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