Europe’s Stoxx 600 index closed 0.4% higher and indices of auto and technology companies led the buying wave.
Germany’s DAX index rose 1.3%, its best performance since January 2022, while France’s CAC 40 rose 0.6% to its highest level in more than two weeks.
A media report said House Speaker Kevin McCarthy is optimistic that Congressional negotiators will be able to reach an agreement to raise or suspend the debt ceiling in time for a House vote. House on the resolution next week.
“There is relief in the financial markets and the feeling that a deal will be done,” said Susanna Streeter of Hargreaves Lansdowne.
“The possibility of a severe shock to the financial system has diminished significantly, which has been supportive for stocks today,” she added.
Among the best-performing stocks on Thursday was CTS Eventim, which rose 5% after the German ticket company reported first-quarter profit that beat estimates.
Shares of Volkswagen rose 3.2%, on the company’s plans to revamp its core brand to boost efficiency and returns.
Deutsche Bank shares rose 0.7%, recouping the first losses, after the bank agreed to pay $75 million to settle a lawsuit brought by a woman alleging abuse by the late man. Jeffrey Epstein cases.
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