The pan-European index STOXX 600 gained 0.9% and reached its highest of the week, led by a 1.8% rise in technology stocks, while real estate papers provided another boost, with a rise of 1.7%.
The technology index was boosted by ASM International, which rose 5.3% after Morgan Stanley revised the semiconductor maker’s rating upward from “equal-weight” to “overweight.”
Global confidence was also favored, as US stocks extended gains thanks to chip designer Nvidia, as investors analyzed the interest rate decisions of three European central banks. However, in New York, the market closed lower.
The Chinese yuan, the US dollar, the euro, the pound sterling, and the Japanese yen.
The dollar rises driven by the fall of the pound after the decision of the Bank of England
The Swiss benchmark gained almost 0.6% after the Swiss National Bank cut interest rates by 25 basis points, to 1.25%maintaining its leading position in the relaxation cycle of global monetary policy.
The Norwegian central bank, for its part, chose to maintain its official interest rate at 4.50%its highest level in 16 years, and said a cut was expected in 2025. Norwegian shares added 0.4%.
The UK’s FTSE 100 advanced 0.8% after the Bank of England It kept its main interest rate unchanged, but the prospect of a future rate cut grew closer, as some monetary officials claimed that his thinking was now “finely balanced,” as reported Ambit.
In terms of data, producer prices fell slightly more than expected in May, while preliminary estimates showed that euro zone consumer confidence rose 0.3% in June.
Evotec soared 13.9% to the top of the STOXX 600, following media reports that the German biotech company is talking to advisors after being considered a possible acquisition target.
Danone fell 2.5% after the French food group did not give guidance on improving its medium-term goals as it plans to expand into health and medical nutrition. The stock was the worst performer on the French CAC 40 index, which rose 1.3%.
