European stocks rise as Fed rate cut boosts market sentiment

European stock markets rose on Thursday after the US Federal Reserve cut interest rates by 50 basis points, fuelling optimistic expectations of a soft landing for the US economy.

The continental STOXX 600 index gained 1.4%, posting its highest close in more than two weeks. Germany’s blue-chip benchmark rose 1.6% to an all-time high of 19,002.38 points.

Growth-sensitive sectors, particularly technology, jumped 3.5% alongside Wall Street’s tech giants, with miners adding 3%, driven by rising base metals prices. Meanwhile, utilities and telecoms lagged, each falling more than 1%.

(Based on information from the agency.)