European stocks traded higher on Thursday, extending gains after the European Central Bank said it would quicken the pace of bond purchases.
Up six of the last eight sessions, the Stoxx Europe 600 SXXP,
“Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects purchases under the [Pandemic Emergency Purchase Programme] over the next quarter to be conducted at a significantly higher pace than during the first months of this year,” said the ECB.
“The Governing Council will purchase flexibly according to market conditions and with a view to preventing a tightening of financing conditions that is inconsistent with countering the downward impact of the pandemic on the projected path of inflation.”
The yield on the 10-year German bund TMBMKDE-10Y,
The yield on the U.S. 10-year Treasury TMUBMUSD10Y,
Engine maker Rolls-Royce RR,