European stocks hit an all-time high supported by global momentum

European stocks rose to a new record high on Thursday, supported by a strong performance in global stocks, with Japan’s Nikkei index rising to its highest level ever.

According to Reuters, the European STOXX 600 index rose to 495.77 points, exceeding the level of 495.46 points it reached in January 2022, as surprisingly strong revenue expectations from the American chip giant NVIDIA raised morale globally.

The index rose in the latest trading by about 1% during the day, and recorded an increase of approximately 4% so far this year after rising more than 10% last year.

Global markets benefited from the broad strength of the global economy and hopes that major central banks will cut interest rates later in the year.

In Asia, Japan’s Nikkei index rose to its highest level ever on Thursday.

The US Standard & Poor’s 500 index is already recording its highest levels ever, led by gains achieved by shares of large technology companies, while European stocks lagged behind, trading at a much lower price relative to earnings.

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