ROME: European stocks advanced for a second day, pushing the Stoxx Europe 600 Index near a seven-year high, as investors await details of the European Central Bank’s bond-buying program.
The Stoxx 600 rose 0.2 percent to 391.15 at 8:05 a.m. in London. A bank rally helped push European equities higher in the last hour of trading on Wednesday following a two-day decline. The gauge is 1.06 points away from its Feb. 27 peak, the highest level since July 2007.
Investors will watch today’s ECB meeting in Nicosia, Cyprus, for details about the quantitative-easing program announced in January. The ECB will also give its first growth and inflation forecasts for 2017, which will have significance for the duration of QE. The central bank’s plan for increased stimulus sparked a 15 percent rally for European stocks this year through the end of February.
The Bank of England will probably keep interest rates unchanged at record lows after meeting at noon in London, economists project.
Among stocks moving on corporate news, Carrefour SA gained 1 percent. France’s largest retailer reported a 6.7 percent increase in full-year earnings as sales strengthened in Brazil and Argentina.
