European stocks closed Thursday’s session at a record high for the third consecutive session.
This was driven by positive corporate earnings and easing geopolitical concerns.
The Stoxx 600 index rose 0.2% to close at 658.19 points,
It had touched 660.91 points during the session. Major stock indices in Spain, France, and Italy also hit new record highs.
The market was buoyed by hopes of a deal between the United States and Iran.
In addition, progress was made toward reopening the Strait of Hormuz.
Strong corporate earnings also helped boost investors’ risk appetite.
Current forecasts indicate that earnings for companies in the Stoxx 600 index will grow by approximately 21% in the second quarter.
This compares to previous forecasts of 12.5%.
In terms of individual stocks, Rink rose 5.8%, while Rheinmetall fell 3.5%, and the aerospace and defense sector declined by about 0.8%.
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