Good day for markets across Europe
European stocks added to their gains Thursday, encouraged by data on US retail sales in July, which fended off worries about a recession in the world’s largest economy.
The pan-European STOXX 600 index gained 1.15%, a near-15-day high, reversing its downward trend.
Among the major markets, Frankfurt’s DAX gained 1.66%, Paris’ CAC-40 and Madrid’s IBEX ended 1.23% higher each, Milan’s FTSE MIB gained 1% and London’s FTSE 100, 0.80%.
Both investors and analysts are betting that the US Federal Reserve will finally cut rates in September, by 50 basis points (0.50%).
The Athens Stock Exchange, closed for the Dormition of the Virgin holiday Thursday, had another good day Wednesday, the fourth consecutive positive session.
The general index ended near the intra-day high, at 1,423.05 points, a gain of 1.42%, on turnover of €96.71 million.
The gains were driven by banks: The bank sub-index has risen 13.1% from its August 5 low. Eurobank and Alpha Bank showed the most gains, 2.04% and 1.78%, respectively.
Among other blue chips, top performers were Jumbo (4.27%) and Titan Cement (3.12%).
