European stocks end higher as Lagarde talks up economic growth | Malay Mail

FRANKFURT, June 22 ― European stocks rose yesteray, led by growth-exposed sectors as encouraging comments from central bank head Christine Lagarde boosted optimism over a speedy economic recovery this year.

The STOXX 600 extended gains after Lagarde said euro zone economic growth could rebound quicker than expected as consumers begin spending again. She also reiterated that the European Central Bank would maintain accommodative policy. “Within equities, we have been warming up to cyclical stocks as the restart broadens globally, as reflected in an overweight call on UK equities and our upgrading of European equities to neutral earlier this year.”

Industrial stocks have risen in recent months on positive indicators from manufacturing activity in the bloc.

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