European Stocks Rise as Banking Fears Fade

European stocks hit a two-week high on Thursday, lifted by signs of cooling inflation, upbeat results from retail giant H&M and fading concerns about the global banking sector that sparked a rally on Wall Street overnight.

The pan-European STOXX 600 index rose 0.6%, hitting it strongest level since March 13, after major US stock indexes rallied on Wednesday.

H&M climbed 7.3% after the worlds second-biggest fashion retailer reported a surprise operating profit for the December-February period.

The wider retail index climbed 1.8%, and European banks rose 0.4% to hit a one-week high.

Real estate shares jumped 2.3%, extending a bounce from five-month lows hit earlier this week.

Danish wind turbine maker Vestas climbed 4.9% after it won an order in Brazil. (QNA)

Source: Qatar News Agency