FX.co ★ European Stocks Hit Record Highs

European equities continued their upward trend on Wednesday, with the EURO STOXX 50 climbing 0.5% to reach a historic 6,060 points, while the broader STOXX 600 saw an increase of approximately 0.3%, hitting a record high of 612. The rise was primarily driven by significant gains in the energy sector. Shares of RWE soared more than 3% following the announcement that the utility company was among the selected project developers to receive guaranteed electricity price contracts in the United Kingdom’s most recent offshore wind auction, which achieved a record capacity, as stated by the government. Meanwhile, investor sentiment was bolstered by robust Chinese trade figures that exceeded expectations, while attention also turned towards an anticipated US Supreme Court decision regarding the legality of tariffs imposed during President Trump’s administration. Additionally, luxury stocks garnered attention, with Kering and LVMH listed as unsecured creditors of the upscale department store chain Saks Global, which filed for bankruptcy on Tuesday.