The STOXX 50 jumped 0.7% and the STOXX 600 was up 0.5% on Thursday, as trackers digest the latest Fed decision. The central bank cut the fed funds rate by 25bps as expected and signalled 50bps of additional cuts until the end of the year.
However, Chair Powell emphasized that the move should not be seen as the start of a new easing cycle. Meanwhile, the Bank of England is set to leave borrowing costs when it announces the monetary policy decision later in the day.
On the corporate front, SAP (2.3%), ASML Holding (2%), Linde (1.8%), Siemens (1.3%) and Schneider Electric (2.2%) booked strong gains. The banking sector was also among the top performers, including Banco Santander (2.1%), UniCredit (1%), Intesa Sanpaolo (0.9%), BNP Paribas (1.1%)
Source: Trading Economics
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