European stocks hover near all-time highs

European stocks increased on Thursday, supported by a group of positive data from companies, while investors remained cautious ahead of the release of important economic data from the United States.

According to Reuters, by 0811 GMT, the European STOXX 600 index rose 0.2%, and is hovering near the unprecedented high levels it reached on Wednesday.

The personal and household goods sub-index rose 0.6%, being the best performer among sectors, with Empressor stock rising 6.1%.

K&S shares rose 5.5% after the salt and potash mining company’s annual results exceeded expectations.

The German container shipping company Hapag-Lloyd recorded an 83% decline in net profit in 2023, and reduced its dividends by 85% as a result of what it described as a difficult market environment. The company’s shares fell 1.1%.

On the data front, investors are awaiting February producer price data and retail sales figures to be released by the United States, which could affect hopes for a mid-year interest rate cut by the Federal Reserve (the US central bank).