European Stocks Recorded New Highs

European stocks made new highs after the pandemic, and cyclical heavy national indices benefited from the gradual shift in global investor preferences for value overgrowth.

The German DAX also hit an all-time high as the country’s Constitutional Court effectively drew a line under the euro critics’ attempts to halt the European Central Bank’s purchases of government bonds.

The Italian FTSE index also recorded its highest levels since the outbreak of the pandemic, as the heavyweight insurance and asset management company Generali posted bumper profits, while banks rose across the region as bond yields continued to drift higher towards Zero.

It was also confirmed that the Eurozone GDP contracted by 0.6% in the first quarter, as expected.