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European stocks closed at record highs for the fourth straight month of gains
European stocks closed at record highs this week after the latest U.S. inflation and employment data assured investors that Intrerest rates will still be cut this year. Heavyweights Novo Nordisk and ASML Holdings were the biggest contributors. The STOXX 600 index closed up 0.6%, led by real estate and energy stocks, while insurance and construction stocks lagged. Sweden’s OMX Stockholm 30 index also closed at an all-time high. In terms of individual stocks, Daimler Truck Holding jumped after the earnings report, Grifols SA rebounded after Thursday’s record plunge, and Volkswagen reported preliminary results that fell sharply in the afternoon. However, the STOXX 600 was little changed this week. The index closed February with gains, moving higher for four consecutive months and for the longest duration since 2021.