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European shares hit fresh one-year peak ahead of ECB decision

Published 03/11/2021, 04:19 PM
Updated 03/11/2021, 04:20 PM
© Reuters.
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 11 (Reuters) - European stocks hit a one-year high on
Thursday as worries about a spike in inflation eased, while
investors awaited the European Central Bank's comments on a
recent rise in bond yields.
The pan-European STOXX 600 index .STOXX rose 0.3% by 0809
GMT, up for a fourth straight session as Wall Street stocks
rallied overnight on tame inflation data and as U.S. Congress
approved one of the largest economic stimulus measures in
history. .N
Mining .SXPP , retail .SX8P and technology stocks .SX8P
were among the top gainers in Europe, rising between 1% and
1.7%.
The ECB policy decision is due at 1245 GMT where
policymakers will be keen to calm markets by signalling faster
money printing to keep a lid on borrowing costs and recommit to
rock-bottom rates until well into the recovery. Euro zone stocks .STOXXE gained 0.5% to hit their highest
level in over 13 years.
Rolls-Royce RR.L inched up 3.1% as the British
engine-maker stuck to its forecast to burn through less cash
this year after posting a worse-than-expected 2020 loss.
German fashion house Hugo Boss AG BOSSn.DE fell 4.2% after
saying it expects coronavirus restrictions to keep weighing on
its business in the first quarter.

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