European stocks near record highs

European stocks hovered near a record high on Thursday, supported by a slew of upbeat earnings reports and ahead of the Bank of England’s monetary policy decision, which is likely to result in an interest rate cut.

The pan-European STOXX 600 index rose 0.5%, nearing a record high last set on Jan. 31.

The earnings reports boosted Britain’s FTSE 100, which rose 0.8%.

The basic resources sector led sector gains, rising 2%, while the healthcare sub-index jumped 0.8%.

The basic resources sector led sector gains, rising 2%, while the healthcare sub-index jumped 0.8%.