European shares at record high as Fed unveils taper plan; eyes on BoE -Breaking
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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on November 3, 2021. REUTERS/Staff(Reuters] – European stocks hit a fourth-straight high Thursday after the U.S. Federal Reserve said it will be patient with interest rate increases. Now, investors are focusing on the Bank of England’s decision.
As expected, the pan-European gained 0.5%, with global shares posting similar gains. The U.S. central banking announced in November that it would reduce its monthly bond purchase and will end them next year.
Stocks in real estate led gains. Alstria Office surged 17.6% following an announcement by Brookfield Asset Management, based in Canada.
Germany’s Blue-chip Index climbed 0.5% and opened at a new record.
The European Central Bank indicated on Wednesday that it is not in hurry to tighten its policy. Now, the spotlight will be on Bank of England’s decision at 1200 GMT.
STOXX 600 was most boosted by Roche drugmaker after it purchased back nearly a third of its voting shares from Novartis, for $20.7 billion. Novartis rose 1.9%.
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