European Shares Hit Fresh 1Year Peak ahead of ECB Decision


March 11 Reuters European stocks hit a oneyear high on Thursday as worries about a spike in inflation eased, while investors awaited the European Central Banks comments on a recent rise in bond yields.

The panEuropean STOXX 600 index 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.

Mining, retail and technology stocks 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 rockbottom rates until well into the recovery.

Euro zone stocks gained 0.5 to hit their highest level in over 13 years.

RollsRoyce inched up 3.1 as the British enginemaker stuck to its forecast to burn through less cash this year after posting a worsethanexpected 2020 loss.

German fashion house Hugo Boss AG fell 4.2 after saying it expects coronavirus restrictions to keep weighing on its business in the first quarter.

Reporting by Sruthi Shankar and Devik Jain in Bengaluru

Source Reuters

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