2023-11-23 19:50:15
© Reuters.
Por Shristi Achar A e Bansari Mayur Kamdar
(Reuters) – Europe’s main stock indexes rose on Thursday, supported by gains in energy stocks, as investors digested the minutes of the European Central Bank’s (ECB) October meeting, at which monetary policymakers showed themselves cautiously optimistic about falling inflation in the euro zone.
The pan-European index closed up 0.27%, at 458.47 points, extending gains and reaching the highest level in two months.
The energy sector led sectoral gains, up 1.4%, after two consecutive sessions of sharp losses.
Also lifting the benchmark index, healthcare stocks rose 0.7%, with Novo Nordisk up 1.0% as it announced a $2.3 billion investment to boost production of its popular medicines for weight loss and diabetes.
Euro zone inflation is falling as expected, or even a little faster, but the ECB should keep the possibility of an interest rate hike on the table, officials agreed last month, according to the reports of their meeting of October 25th and 26th.
“The minutes highlighted the ECB’s more cautious view towards the economy and, in fact, mark the next phase of monetary policy tightening: the end of interest rate increases and the focus on ‘higher (rates) for longer'”, said Carsten Brzeski, global head of macroeconomics at ING Economics, in a note.
Market participants also digested data from the euro zone’s Composite Purchasing Managers’ Index, which showed that business activity in the region contracted in November, and suggested that the bloc’s economy will contract again this quarter as consumers will continue to control their expenses.
In LONDON, the Financial Times index advanced 0.19%, to 7,483.58 points.
In FRANKFURT, the index rose 0.23%, to 15,994.73 points.
In PARIS, the index gained 0.24%, to 7,277.93 points.
In MILAN, the index increased by 0.28%, to 29,235.71 points.
In MADRID, the index registered an increase of 0.18%, at 9,905.50 points.
In LISBON, the index increased by 0.52%, to 6,312.93 points.
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