Stocks in Europe extended gains on Thursday, with the STOXX 50 rising 0.9% to hit new 25-year highs and the STOXX 600 gaining 0.5% after breaking a fresh record level in the previous sessions.
Market sentiment got a boost amid prospects of a potential resolution to the conflict in Ukraine. President Trump announced that the US and Russia would begin immediate negotiations following his conversation with President Putin and that the two leaders would meet in Saudi Arabia for further discussions.
Autos, food and beverages, travel and leisure and industrials were among the top performing sectors while household goods and oil and gas underperformed. In addition, traders welcomed a surprise growth in UK GDP for Q4.
Meanwhile, the earnings season continues with Nestle soaring more than 6% after sales growth and profit margin beat expectations. On the other hand, Unilever sank more than 6% after offering a cautious guidance and Barclays tumbled almost 5% after missing on fixed income traders.
Source: Trading Economics
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