The European stock market reached new heights today, driven by optimism surrounding a potential interest rate cut from the European Central Bank (ECB). The STOXX 600 index, which tracks major European stocks, rose by 0.5%, marking its third consecutive day of record growth.
Germany's flagship index also climbed 0.3%, achieving a significant milestone. Investors are anticipating that the ECB may lower the deposit rate by 25 basis points to 2.75%, the lowest since early 2023. This speculation contrasts with the U.S. Federal Reserve's decision to maintain current rates.
Analysts noted a shift in the global economic landscape, with Europe making strategic moves amid diminishing U.S. dominance. The real estate and technology sectors saw substantial gains, with notable performances from ASML and Siemens Energy. In Spain, positive bank earnings boosted the IBEX index, while Deutsche Bank's disappointing results negatively impacted the German market.