{"id":45095,"date":"2024-03-21T09:38:03","date_gmt":"2024-03-21T09:38:03","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/03\/21\/european-shares-climb-with-central-bank-meetings-in-focus\/"},"modified":"2024-03-21T09:38:03","modified_gmt":"2024-03-21T09:38:03","slug":"european-shares-climb-with-central-bank-meetings-in-focus","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/03\/21\/european-shares-climb-with-central-bank-meetings-in-focus\/","title":{"rendered":"European Shares Climb With Central Bank Meetings In Focus"},"content":{"rendered":"
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European stocks climbed on Thursday as investors cheered dovish Fed comments suggesting that the U.S. central bank remains on track to cut interest rates three times in 2024.<\/p>\n

Investors also awaited a rate decision from the Bank of England later in the day for additional clarity on when it would start cutting interest rates. <\/p>\n

The Swiss National Bank cut its main interest rate by 25 basis points to 1.50 percent today in a surprise move, while the Norwegian central bank kept its key interest rate unchanged at 4.5 percent but signaled it could start cutting rates later this year.<\/p>\n

Meanwhile, new survey data released earlier today showed that the Eurozone manufacturing sector activity downturn extended while the services sector continued to expand in March.<\/p>\n

The pan European STOXX 600 was up 0.7 percent at 508.61 after closing flat with a negative bias on Wednesday. <\/p>\n

The German DAX climbed 0.6 percent, France’s CAC 40 edged up 0.2 percent and the U.K.’s FTSE 100 was up nearly 1 percent. <\/p>\n

Next, a clothing, footwear and home products retailer, surged nearly 5 percent in London after posting improved pre-tax profit and backing guidance.<\/p>\n

3i Group jumped 3.4 percent after the private equity and infrastructure firm reported an 8 percent increase in net asset value (NAV) over the third quarter.<\/p>\n

Gold miner Centamin soared 5 percent after delivering annual production in line with guidance.<\/p>\n

FirstGroup added 1.7 percent after it won the tender to operate one of London’s most iconic travel infrastructure and leisure sites.<\/p>\n

Nationwide Building Society gained 1 percent and Virgin Money UK rallied 2.4 percent after they agreed on the terms of a recommended cash acquisition of the entire issued and to be issued share capital of Virgin Money by Nationwide.<\/p>\n

Veolia Environnement rose about 1 percent in Paris after it was selected by the Greater Paris Water Authority to manage its public drinking water for 12 years starting in 2025.<\/p>\n

Automakers Volkswagen and Renault both rose about 1 percent as industry data showed new car sales in the EU rose for the second straight month in February on the back of strong demand among four major markets<\/span>, especially in France and Italy.<\/p>\n

New car registrations grew 10.1 percent year-over-year to 883,608 units in February, according to monthly data from the European Automobile Manufacturers’ Association.<\/p>\n

Germany’s Vossloh gained 1.6 percent after achieving record sales and significant increase in EBIT in the 2023 financial year.<\/p>\n

United Internet tumbled 3.6 percent after announcing its full-year results. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n