Thursday was once again a celebration for investors and traders in the European stock markets. Thanks to strong earnings reports during the ongoing earnings season, European stock indices continue to reach record highs. In the Euro Stoxx, which closed near its 25-year high, banking stocks were once again the main driver, pushing the index up by over 1.7% on the day. Shares of the Dutch ING Bank surged by more than 6%, while shares of BBVA, Santander, and Unicredit each climbed by more than 3.5%.
DAX Shines with New Record Highs – BASF Leads the Way
The German DAX index hit another all-time high, delivering a daily gain of 1.5% and closing just below the 22,000-point mark at 21,913 points. Investors appear to be setting aside concerns regarding U.S. tariffs and are instead pricing in a positive outlook. The index was primarily driven by the shares of chemical giant BASF, which posted a gain of over 7% by the end of the trading day. Siemens Healthineers also performed strongly, with its impressive earnings results leading to a more than 5% rise in its stock price.
Rate Cut in the UK Pushes FTSE 100 to Record High
The Bank of England’s decision to soften its conservative stance also led to gains in the UK stock market, bringing smiles to investors in the FTSE 100. The index capitalized on the positive momentum, reaching a new record high. The interest rate was cut by 25 basis points as expected, and the outlook for further rate cuts in the near future contributed to the positive trading day. The decision was unanimous, with two board members even advocating for a 50-basis-point cut. AstraZeneca also made headlines with its 19% revenue growth, which led to a 5% rise in its stock price.
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