European stocks rose on Thursday, extending their gains for the fourth day in a row and hitting new all-time highs on strong market sentiment following successive bullish earnings reports from major companies and banks in Europe.
The Stoxx Europe 600 index rose 0.25% at 11:37 GMT and hit a new record high at 470.23 points, after closing 0.6% higher.
The tech sector posted the biggest gains in Europe today, surging more than 1%, after major European tech companies reported higher-than-expected profits in the second quarter.
Major European banks and businesses continue to post strong profits in the second quarter of this year, reflecting a continued recovery from the coronavirus pandemic.
Futures on the S&P 500 rose 0.2% today before Wall Street opened, after the index ended up 0.5% yesterday, following a statement by the Vice Chairman of the Fed on the near start of the reduction in the Fed’s bond purchase program.
Back in Europe, the Euro Stoxx 50 index rose 0.3%, France’s CAC 40 rose 0.5%, Germany’s DAX index rose 0.25% and the UK’s FTSE 100 rose more than 0.2%.