LONDON – European markets ended the first quarter of 2024 up about 6.8% on Thursday, with recent inflation data continuing to show that pressure from rising prices is cooling.
The Stoxx 600 index closed up 0.23% that day, setting another record high after March – rising to above 513 points during the session. It was the best quarter of the year and the best month since December 2023, according to Lseg.
Markets will remain closed on Good Friday and Easter Monday, with most trading in the region not resuming until Tuesday.
Travel stocks, which led gains throughout the day, rose about 0.95%, while utility stocks fell 0.5%. Shares in JD Sports & Fashion rose 16% on Thursday after the company released its latest trading news, which calmed investor concerns about the retailer’s prospects.
In terms of data, Gross Domestic Product Figures It was confirmed on Thursday that the UK economy will slip into recession in 2023, shrinking by 0.3% in the final quarter.The German Statistics Office also stated that employment It rose slightly in February.
Globally, U.S. stocks traded near flat as the S&P 500 neared its best first-quarter performance in five years.
Overnight in Asia-Pacific, Japanese shares posted the biggest declines among Asian markets, while Australian shares hit a record high, driven by mining stocks.
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