“European stocks rose, extending their highest level since June 2008, after the Bank of Englandraised its growth forecast for Europe’s third-biggest economy. U.S. index futures were little changed, while Asian shares rallied.
EasyJet Plc (EZJ) led a gauge of travel companies higher after the low-cost airline said it will deliver improved returns and profitability for the full year. Commerzbank AG surged 15 percent on the first day that it offered new shares to investors. ThyssenKrupp AG climbed 1.3 percent after Germany’s biggest steelmaker reported earnings that exceeded estimates.
The Stoxx Europe 600 Index gained 0.4 percent to 306.95 at 1:08 p.m. in London. The equity benchmark has rallied 9.8 percent so far this year, bolstered by monetary stimulus from the world’s central banks. Futures contracts on the Standard & Poor’s 500 Index slipped 0.1 percent today, while the MSCI Asia Pacific Index advanced 0.6 percent.
“Quantitative easing globally is driving the market,” said Andrea Williams, who helps oversee $76 billion as head of European equities at Royal London Asset Management. “Generally, valuations still look reasonable and the corporate results season has also been OK.”
U.S stocks rallied yesterday, sending the S&P 500 to its eighth record in the past nine trading days, amid increased optimism about the world’s largest economy. Asian equities rose today with Japan’s Nikkei 225 Stock Average climbing above 15,000 for the first time since January 2008.
