Risk appetite keeps rising in Europe
Europe’s benchmark stock index hit record highs again, at a time when risk appetite remains strong due to the appropriate timing for quarterly accounts submission – fueling investor optimism about the prospect of continued growth.
The Stoxx 600 index closed adding 0.24% to 489.61 points, which was a record closing. During the session, it made a new all-time high at 490.45 points.
Retail led the gains again. Sales of British soft drinks and beer maker Diageo rose after it said it will emerge from the pandemic with higher-than-expected growth in the medium term.
Another notable company is England’s Vodafone, which valued its third-quarter revenue, which beat estimates.
Despite these British stocks rallying, the FTSE closed 0.3% lower. Spain’s IBEX 35 was also down 0.6%.
Among other Western European relief indicators, France’s CAC-40 rose 0.3% and Germany’s Dax rose 0.6%. In Amsterdam, the AEX rose 0.4%.
Fund managers are growing increasingly optimistic about European stocks, with 71% of respondents to a monthly poll convinced that the rally on the Old Continent will continue until at least next year.
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