FX.co ★ European Stocks Gain for 3rd Session

European stocks experienced an upswing on Thursday, with the STOXX 50 and STOXX 600 indices each climbing by 0.3%. This marks a continuation of gains seen in the previous two trading sessions, indicating a strengthening positive sentiment within global markets. The release of weak labor-market data in the U.S. has bolstered expectations that the Federal Reserve will implement an additional 25 basis point rate cut in the upcoming week, further enhancing investor optimism. Market participants are also paying close attention to the progress of peace negotiations concerning Ukraine, as the U.S. special envoy is scheduled to engage with Ukraine's lead negotiator in Florida today. In corporate news, STMicroelectronics saw a notable rise of over 4%, emerging as a leader on the STOXX 600, while ASML increased by 1.1%, bolstered by reports of ambitious growth plans from China's Cambricon Technologies, which aims to enhance its AI-chip production more than threefold by 2026. Siemens advanced by 1.6%, and Schneider Electric saw a 3% increase following an upgrade from JP Morgan. In the automotive sector, Mercedes-Benz appreciated by 3% and Renault by 3.5%, both benefiting from a positive reassessment from Bank of America (BofA). Additionally, Societe Generale's shares rose by 2.8% and Commerzbank's by 2% after receiving an upgrade from Goldman Sachs.