European stocks strengthened and approached an all-time high

EU, European Union, flags, Europe

European stock markets have been helped in particular by commodity stocks, technology and car manufacturers. The Frankfurt Stock Exchange even strengthened the most in the last seven days. The pan-European STOXX 600 index almost equaled its historical record.

European stocks, as measured by the STOXX 600 index, strengthened by 0.8 percent on Wednesday. The pan-European stock index ended Wednesday’s session just a few tenths below its all-time high of less than 460 points.

Commodity and technology stocks, but also stocks of automotive companies, helped markets in Europe the most. Shares of Europe’s most valuable technology company, SAP, rose 3.5 percent. The French semi-state energy company EDF then added exactly two percent after improving its full-year outlook for this year’s financial results.

Shares of companies doing business in tourism and leisure activities then went in the opposite direction. The sector wrote off 1.5 percent after the World Health Organization warned governments against premature easing of anti-epidemic measures. In the end, this slightly cooled optimism in other segments of the stock markets.


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