Europe close: Stocks push higher again, despite hawkish central banks

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Sharecast News | 16 Jun, 2023

European shares jumped on Friday, ignoring continuing hawkish noise from central banks around the world and taking their cue from strong sessions in the US and Asia overnight.

"Stock indices finished a week of Fed, ECB and BoJ meetings in the green with even the FTSE 100 seeing its first positive week in a month," said IG senior market analyst Axel Rudolph.

"Stocks weren't overly concerned by the apparently more hawkish stance of the Fed and another ECB rate hike as they continued to surge higher into Triple Witching Friday, the day at which stock options, stock index futures and stock index options expire in the US."

The pan-regional Stoxx 600 index was up 0.53% to 466.80, with all major continental bourses higher.

France's Cac-40 addded 1.34% to 7,388.65, alongside a 0.41% advance for the German.

Worth noting, the German stock market gauge notched up a fresh record high at the intraday level.

In equity news, shares in Travis Perkins slumped 7% as the building products supplier issued a profits warning.

The news hit rivals Grafton Group and Howden Joinery, while housebuilders also fell, with Barratt and Vistry both lower.

Shares in MorphoSys surged after an upgrade for the German pharma company from JP Morgan to 'overweight' from 'underweight'

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