European Stocks Hit Year-High Following ECB Statement

European stocks rose on Thursday to their best level in about a year, supported by the dovish tone of the European Central Bank (ECB), which earlier today decided to maintain interest rates and signaled plans to expand its asset purchases in the coming quarter.

Reduced fears about a reflation gave a strong boost to European markets, as the STOXX Europe 600 index rose by 0.49% and finished at 424.17 points, its best level since late February 2020.

Meanwhile, STOXX 50, Europe’s leading blue-chip index for the Eurozone, surged by 0.65% and closed at 3,844.68 points, its highest level in about 13 months.

France’s CAC40 index settled higher by 0.72%, while Germany’s DAX gained 0.20% and the UK’s FTSE100 closed higher by 0.17%.