European shares hit a two-month high on Wednesday, led by interest rate-sensitive property stocks, while British software company Sage jumped to a record after reporting a strong annual operating profit and announcing a stock buyback plan. own actions.
The pan-European STOXX 600 index closed 0.30% higher at 457.24 points, with real estate stocks leading the gains, up 1.5%.
Meanwhile, the gauge of euro zone stock market volatility hit its lowest level since July.
Euro zone bonds were little changed after central bank officials did little to dampen investor expectations that the next interest rate move would be downward.
Minutes of the Federal Reserve’s latest monetary policy meeting showed that authorities agreed to act “cautiously” and raise interest rates only if inflation rises again, while European Central Bank President Christine Lagarde he stated that victory is yet to come. on short-term data flow are premature.
“The big picture hasn’t really changed, I guess the markets are close to fair valuation and there’s no big positive catalyst, but even so investors are still waiting, thinking that things will get better soon, and that’s what they think” I’ve been saying this for a year,” said Michael Field, European market strategist at Morningstar.
Among individual stocks, Sage jumped 13.3% to top the STOXX 600 after reporting an 18% rise in full-year underlying operating profit and saying margins will continue to rise this year. The British company also announced a £350m share buyback programme.
IN LONDON the Financial Times index fell by 0.17%, to 7,469.51 points.
IN FRANKFURT the DAX index rose by 0.36%, to 15,957.82 points.
IN PARIS, the CAC-40 index gained 0.43%, to 7,260.73 points.
IN MILAN the Ftse/Mib index grew by 0.01%, to 29,154.91 points.
In MADRID, the Ibex-35 index recorded an increase of 0.61%, to 9,887.40 points.
IN LISBON, the PSI20 index depreciated by 0.06%, to 6,280.45 points.
Source: Terra
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