EUROPE

The Star Early Edition - - MARKETS -

STOCKS closed un­changed at a two-month high yes­ter­day, with Ger­man eq­ui­ties post­ing their long­est win­ning streak since May last year.

The Stoxx Europe 600 in­dex stood at 346.28 at the close of trad­ing, after ear­lier ris­ing as much as 0.4 per­cent. Util­ity com­pa­nies were among the big­gest gain­ers, with RWE and EON help­ing push Ger­many’s DAX in­dex up 0.6 per­cent. The Euro­pean gauge has re­bounded 12 per­cent from this year’s low last month amid ad­di­tional stim­u­lus mea­sures from cen­tral banks in China, Ja­pan and Europe.

“There is still a lot of money around which could be in­vested back into eq­ui­ties,” said Benno Gal­liker, a trader at Luzerner Kan­ton­al­bank in Lucerne, Switzer­land. “As long as cen­tral banks are push­ing stocks, there is re­ally a big support be­neath this move.”

Ger­man eq­ui­ties have climbed 16 per­cent since their low last month. The DAX closed at its high­est level since July. – Bloomberg

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