European shares added to the rally on Thursday, as rising oil and metals prices lifted commodity-linked stocks, while a jump in banks propelled Italy’s main index to its best session since mid-March.
The pan-European STOXX 600 index rose 1.88% to 415.01 points with broad gains. Miners jumped 5.4% on copper above 20-month lows on hopes of improving demand from China. The energy sector jumped 4%.
Banks gained 3.4%, giving the biggest boost to the STOXX 600. Italy’s MIB index, which focuses on banking institutions, has moved steadily away from the November 2020 lows it hit this week.
European Central Bank policymakers debated signaling a further interest rate hike for July and were eager to keep the door open for bigger moves at subsequent meetings to combat rising prices, minutes from the June meeting showed.
London’s FTSE 100 closed higher despite the resignation of British Prime Minister Boris Johnson. Analysts said the move was expected as several ministers in Johnson’s administration have resigned in recent days after the latest in a string of scandals weakened support for him.
- In London, the Financial Times index advanced 1.14%, to 7,189.08 points;
- In Frankfurt, the DAX index rose 1.97% to 12,843.22 points;
- In Paris, the CAC-40 index gained 1.60%, at 6,006.70 points;
- In Milan, the Ftse/Mib index appreciated by 3.05%, at 21,558.07 points;
- In Madrid, the Ibex-35 index registered an increase of 2.19%, to 8,122.50 points;
- In Lisbon, the PSI20 index rose by 1.41%, to 5,967.19 points.
Source: CNN Brasil
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