Stock indexes of Western Europe rose on Thursday to the highest level in two months on the statements of the European Central Bank head, Mario Draghi, about the revision of the quantitative easing program (QE) in December, reports Bloomberg.
The composite index of the largest companies of Stoxx Europe 600 jumped 2%, which is a record pace since October 5, to 369.99 points.
The index of the largest enterprises in the Eurozone - Euro Stoxx 50 added 2.47%. Britain's FTSE 100 rose 0.44%, the French CAC 40 rose 2.28%, and the German DAX increased by 2.48%.
The ECB at the end of October meeting, which ended on Thursday, left unchanged the basic interest rates in the Eurozone. Chairman of the Central Bank, Mario Draghi, during a press conference after the meeting said that in December, the Central Bank will review the amount of the current quantitative easing program (QE) and its duration.
"QE will continue until September 2016 or longer if necessary," - he said.
"That's what the market expected to hear, - says fund manager at MPPM EK, Guillermo Hernandez Samper. - The market will be fully aware of the meaning of his words and their connotations in a few days, but my first reaction was positive. Draghi statements may well become the new driver of the European stock market growth."
The stock price of French telecom operator Orange SA (PA: ORAN) on Thursday rose 7.5% thanks to better forecasts of annual profits.
The market value of the Swiss computer peripherals manufacturer, Logitech International SA, rose 9.6%. Profits and revenues for the third quarter were higher than market expectations.
Quotes of the French Pernod Ricard (PA: PERP) SA, the second largest producer of alcoholic beverages in the world, rose 5.2%. The company increased its revenues in the first quarter by 9% above expectations, and gave a positive outlook for earnings growth in the current financial year in general.
The capitalization of the Danish biotech company Novozymes A/S jumped 11% amid strong statements.
The world's largest manufacturer of cancer drugs - Roche Holding AG increased its capitalization by 3.3% due to the positive quarterly reporting and the revision of the annual revenue forecast.
The stock price of the German real estate operator - Deutsche Wohnen AG rose 5.2% in Frankfurt. The company refused its plans to buy LEG Immobilien.
Shares of Credit Suisse fell 1.5% after the Swiss regulators increased capital requirements for the first level of the bank to 5%.
Meanwhile, the market value of German bank Deutsche Bank rose 2.5% on rumors that it might cut by a third the bonus payments in its investment division.