European shares are at an all-time high

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04/08 11:32

European stocks hit record highs today thanks to optimism about a stimulus-driven global economic recovery after the US Federal Reserve pledged to keep monetary policy soft.

The European “STOXX 600” index rose 0.5 percent, by 07:20 GMT, to consolidate the gains it made this week, as it wiped out all the losses driven by the Coronavirus pandemic.

Mining, auto industry and retail stocks led the gains on the index, rising between 0.7 percent and 1 percent in early trade.

The minutes of the US central bank’s most recent policy meeting revealed on Wednesday that Fed officials are still concerned about the existing risks of the Coronavirus pandemic, and that they are committed to strengthening the economy until a more robust recovery occurs.

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