Major European markets ended higher on Thursday after indices rallied strongly during the day. The Stoxx 600 index closed at 495.53 points, beating its previous record high of 494.35 from January 5, 2022.
Large companies such as Zurich Insurance, Telefonica, Lloyds Banking Group, and Rolls-Royce rose during the session on the back of their earnings results. Economic data revealed a contraction in the euro zone's manufacturing sector in February, although the services sector returned to growth.
At the close, the German DAX rose 1.52%, with Porsche being the best performer, up 5.25%. The French benchmark CAC 40 added 1.37%, while Stellantis improved by 3.02%. The FTSE 100 rose by 0.53%, as Beazley increased by 9.11%. The pan-European Euro Stoxx 50 improved by 1.66%, and Mercedes Benz led the gains, up 5.01%.
On the currency front, the euro and the British pound were flat against the dollar at 5:29 pm CET, selling for $1.08152 and $1.26 simultaneously.
