European Stocks Mixed; German Autos Help DAX Outperform
- Date: 18-Mar-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
European Stocks Mixed; German Autos Help DAX Outperform
© Reuters.
By Peter Nurse
Investing.com - European stock markets traded in a mixed fashion Thursday, with strong autos gains helping Germany's index outperform following a reassuring statement from the Federal Reserve.
At 3:55 AM ET (0855 GMT), the DAX in Germany traded 0.7% higher, climbing to a new all-time high, the in France grew 0.1%, while the U.K.'s index was 0.2% lower.
The Federal Reserve concluded its two-day on Wednesday, and reassured investors that it was committed to maintaining an accommodative monetary policy for some time.
Chairman indicated that while inflation is expected to reach 2.4% this year, above the central bank's 2% target, this would be a temporary surge and he did not currently see the Fed raising its benchmark overnight interest rate through 2023. The central bank also projected the U.S. economy will grow by a massive 6.5% this year.
The news that the world's largest economy, and global growth driver, was set to expand strongly without