FX.co ★ European Stocks Track Global Peers Higher

On Wednesday, leading European exchanges witnessed an upward trend, with the STOXX 50 rising by 0.7% and the STOXX 600 increasing by 0.4%. This movement aligned with the global optimism as traders heightened expectations for a Federal Reserve interest rate cut in the coming month. Optimism was bolstered by softer economic data emanating from the US and further assurances from Federal Reserve officials supporting additional easing measures. Additionally, investors were keenly anticipating the budget presentation by UK Chancellor Rachel Reeves. Markets also kept a close eye on developments in Ukraine, following President Volodymyr Zelenskiy's declaration of willingness to progress with a US-supported framework to resolve the conflict with Russia. Notably, ASML Holding saw a rise of 2.8%, L’Oréal climbed 1.4%, and Siemens Energy increased by 2.5%; conversely, SAP decreased by 0.2% and Nestlé fell by 0.9%.