European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the possibility of lower energy prices supported a backdrop of stronger growth in the bloc. The STOXX 50 gained 1% to 5,390 and the STOXX 600 jumped 0.6% to 551.
The heavyweight sectors of banks, luxury, and tech were among the largest gainers of the session with Intesa Sanpaolo, LVMH, Kering, SAP, and Prosus jumping between 4% and 1.5%. Healthcare also closed sharply higher following their volatile momentum in the first half of the month, with Sanofi and Bayer adding 2% and 3.5%, respectively, while AstraZeneca jumped 3% outside the Eurozone index.
In turn, oil producers edged lower, headlined by the 1% drop for TotalEnergies following the signal of global surpluses by the IEA and potential for de-escalation in the Russian invasion of Ukraine ahead of the summit between US and Russian Presidents Trump and Putin
source: Trading Economi
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