European Stocks Rise to Record Levels

European indices hit new record highs Thursday, November 4th for the fourth consecutive session after the US Federal Reserve indicated that it would be patient with interest rate hikes, thus diverting investors’ attention to the Bank of England’s interest rate decision.

After the European Central announced that it was in no hurry to tighten monetary policy, attention turned to the Bank of England, which is expected to announce its decision today.

The European Stoxx600 Index rose 0.5% while global stocks witnessed similar gains after the US Federal Reserve said, as expected, that it will start reducing its monthly bond purchases in November and plans to end next year.

The German DAX Index rose 0.5% as well, after opening at a record high.