European shares closed at their highest in more than a year on Thursday as Itali...
- European shares closed at their highest in more than a year on Thursday as Italian stocks surged on relief that Rome had avoided European Union disciplinary action and rising expectations of looser monetary policy by major central banks.
The pan-European STOXX 600 index rose 0.1%, extending gains to a sixth straight session on optimism that Christine Lagarde will stick to the ECB’s dovish stance as the central bank’s next chief.rose 1% to hit its highest level in almost a year, while its bank index .FTIT8300 soared 3.4% after Italy persuaded the European Commission that new measures submitted this week would help bring its growing debt in line with EU fiscal rules.
Expectations of lower borrowing costs have helped European equities recover from May’s losses and resume their 2019 rally, with the STOXX 600 up more than 16% this year.
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