© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt
(Reuters) – European stocks hit record highs on Thursday on optimism around a global stimulus-led economic rebound after the U.S. Federal Reserve pledged to keep monetary policy loose.
The pan-European rose 0.5% by 0720 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.
Miners, automakers and retailers led gains on the index – up between 0.7% and 1% in early trading.
Fed officials remain wary about the ongoing risks of the coronavirus pandemic and are committed to bolstering the economy until its recovery is more secure, minutes of the central bank’s latest policy meeting showed on Wednesday.
Investors broadly looked past news that several European countries had announced restrictions on the use of the AstraZeneca (NASDAQ:) COVID-19 vaccine in younger people, after a link was found to very rare blood clots.
The British drugmaker’s shares inched up 0.7%.
Holland-based technology investor Prosus (OTC:) NV rose 1.6% after it sold 2% of China’s Tencent Holdings (OTC:) Ltd for $14.7 billion in the world’s largest-ever block trade.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.