European stock indices hit new record highs after interest rate cut

A number of European stock indices hit new record highs at the close of trading on Thursday, as investors reacted to the fifth consecutive interest rate cut by the European Central Bank.

The Stoxx 600 European index rose 4.58 points, or 0.86%, to 538.84 points at the end of trading, recording a new record close as investor sentiment continued to recover from Monday’s sell-off in global technology stocks.

The German DAX index also closed the session up 89.67 points, or 0.41%, to 21,727.20 points, a new record high.

The British FTSE 100 index also rose 89.07 points, or 1.04%, to close at 8,646.88 points.

The French CAC 40 index rose 69.16 points, or 0.88%, to close at 7,941.64 points.