European equity close: ECB sources keep gains on track

The euro fell and European stocks gained further (though later gave much of it back) on an ‘ECB sources’ report suggesting that after 50 bps in Feb, the ECB will slow to 25 bps.

  • Stoxx 600 +0.3%
  • German Dax +0.3%
  • France’s CAC +0.4%
  • UK’s FTSE 100 -0.2%
  • Spain’s Ibex +0.1%
  • Italy’s FTSE MIB +0.2%

It’s been one of the strongest ever starts to a year for European stocks and the FTSE 100 continues to flirt with an all-time high. Portfolio managers have been buying Europe on relative valuation.

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