LENDERS pushed stocks to a two-month high yesterday, even as they pared gains in the final hour of trading amid a decline in miners and oil and gas companies.
The Stoxx Europe 600 index added 0.1 percent to 345.72 at the close of trading in London, after earlier jumping as much as 0.5 percent. The benchmark index gained 2.9 percent last week as Mario Draghi, the president of the European Central Bank, said the central bank needed to accelerate inflation and might broaden its assetpurchase programme, while China cut key interest rates for the first time since 2012.
Futures on the Euro Stoxx 50 index rose 0.5 percent at 5.04pm in London.
“The status quo is to invest with the belief that stimulus will continue to be supportive to equity prices,” Daniel Weston, a portfolio manager at Aimed Capital, said.
“All corners of the world are stimulating. Investors are being forced to consider separating weak fundamentals with bullish stimulus.” – Bloomberg