European stocks recorded an increase at the close of trading on Thursday, supported by hopes of a near breakthrough to the crisis of the US public debt ceiling.
The German blue-chip index hit its highest level in more than a year, according to the data.
The figures indicate that the European Stoxx 600 index closed up 0.4%, and both the automotive and technology companies indices led the buying wave.
The German DAX blue chip index recorded its best performance since January 2022, up 1.3%. The French CAC40 index increased by 0.6%, achieving its highest level in more than two weeks.
U.S. House Speaker Kevin McCarthy expressed his optimism that congressional negotiators could reach an agreement to raise or suspend the debt ceiling in time for a ballot on the House resolution next week, according to media report.
The possibility of a strong shock to the financial system has decreased a lot, which supported stocks today. » CNBC quoted Susannah Streeter of Hargreaves Lansdowne.
CTS Eventim was among the best stocks on Thursday, up 5%. Following the German ticket sales company announcement of earnings exceeding estimates for the first quarter.
Volkswagen shares rose 3.2% thanks to the company’s plans to renew its core brand to increase efficiency and returns.
Deutsche Bank shares rose by 0.7%, recouping early losses after the bank agreed to pay $75 million to settle a lawsuit filed by a woman who alleges abuse by the late businessman Jeffrey Epstein and who accused the German bank of facilitating his sex trafficking.