FX.co ★ European Stocks Edge Higher

European stocks experienced an upward trend on Wednesday, with the STOXX 50 advancing by 0.5% and the STOXX 600 increasing by 0.2%. This marked the continuation of gains from the previous session and signaled a shift towards a more optimistic market sentiment, following a sluggish start to the month. This improvement came as the recent decline in bond markets and cryptocurrencies began to stabilize. Investors are closely monitoring a series of upcoming U.S. economic data releases, alongside impending monetary policy announcements from both the Federal Reserve and the Bank of Japan. In addition, attention remains on corporate updates and earnings reports. Inditex shares notably jumped over 7%, leading the STOXX 50, after the company announced a 10.6% rise in currency-adjusted sales year-over-year for the period from November 1 to December 1. Meanwhile, ASML saw a 2.7% increase, and Airbus climbed 2.1%, recovering from significant losses in the previous two sessions. On a less positive note, Hugo Boss fell by 9.2%, marking the lowest point on the STOXX 600, following an update to its guidance that predicted a short-term drop in sales.