European stocks scale all-time highs after Fed holds stance

By Reuters4 days ago

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Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) -European stocks hit record highs on Thursday as optimism grew around a global stimulus-fuelled economic rebound after the U.S. Federal Reserve signalled that it was in no hurry to tighten its monetary policy.

The pan-European STOXX 600 index rose 0.3%, according to Google (NASDAQ:GOOGL) Finance data, adding to gains notched earlier this week when the index erased all of its pandemic-driven losses.

Fed officials remain wary about the ongoing risks of the coronavirus pandemic and are committed to bolstering the economy until its recovery is more secure, minutes of the central bank's latest policy meeting released on Wednesday showed.

“A dovish set of meeting minutes from the Federal Reserve has further reassured investors that Jay Powell and the gang won't be turning off the stimulus taps any time soon,“ Connor Campbell, an analyst at Spredex, wrote in a morning note.

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