European stocks edge up amid Trump win and rate cut expectations
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The STOXX 50 rose by 0.3%, and the STOXX 600 gained 0.2% on Thursday, attempting to recover from the previous day's losses as investors digested Donald Trump's victory in the US presidential election.
European stocks edge up amid Trump win and rate cut expectations
Markets also positioned themselves ahead of expected quarter-point rate cuts by the Federal Reserve and the Bank of England. The earnings season continued with positive reports from Rheinmetall (up 0.3%), showing a surge in Q3 sales, Munich Re (up 1.9%) raising its 2024 insurance revenue forecast, and Veolia (down 0.5%) maintaining its full-year guidance.
Conversely, Daimler Truck (up 2%) posted a revenue decline, and Telefonica (down 0.9%) reported lower profits. On the data front, Germany’s industrial production and exports shrank more than expected.
