The "Super 7" push STOXX to new peak
STOXX 600 up 0.8%
Traders await ECB policy meeting
Tech names continue ascent, up 2%
Utilities worst off
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THE "SUPER 7" PUSH STOXX TO NEW PEAK
Traders are having a quiet time before the European Central Bank's almost-certain first interest rate cut in nearly 5 years.
But with this historic moment less that one hour away, the underlying mood couldn't be better.
All of Citi's "Super 7" basket, a European equivalent of Wall Street's "Magnificent 7" is on the up.
Its biggest constituents, Novo Nordisk NOVOb.CO and ASML ASML.AS, are both bidding farewell to two years of tightening by hitting fresh record highs, making the loss of momentum seen during earnings season a distant memory.
The other Super 7 components - SAP SAPG.DE, Richemont CFR.S, LVMH LVMH.PA, Schneider SCHN.PA and Ferrari RACE.MI - are up between 0.8 and 4.3%. Little surprise then the broader STOXX 600 .STOXX has scaled a new lifetime-high, back above 525.
(Danilo Masoni)
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THURSDAY'S OTHER LIVE MARKETS POSTS
PARIS OLYMPICS: A "SMALL NEGATIVE" FOR LUXURY CLICK HERE
CITI FORECASTS FREIGHT RATES DOWNTURN, IS CAUTIOUS SHIPPERS CLICK HERE
STOXX ON THE UP AS TECH SURGE CONTINUES CLICK HERE
FUTURES SIGNAL RISES AS ECB COUNTDOWN BEGINS CLICK HERE
IT'S TIME FOR E-C-B CLICK HERE
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