European Stocks Hit Two-Week Highs

European stocks rose to near two-week highs on Wednesday after China promised to roll out more stimulus to boost its economy, while hopes of progress in Ukraine-Russia peace talks kept the mood buoyant.

The pan-European STOXX 600 index rose 2.2%, hitting its highest since March 3.

Battered stock markets in China and Hong Kong surged after Vice Premier Liu He said Beijing will roll out more measures to boost the Chinese economy as well as favorable policy steps for its capital markets.

Dutch tech investor Prosus, raised nearly 20% after hitting all-time lows in the previous session. The stock led the wider technology index up nearly 4.7%.

Other China-exposed sectors such as miners and autos were up between 2.1% and 3.2%.