UK and France Stock Market Benchmark Indices Reach Intraday All-Time Highs

The representative indices of the London Stock Exchange in the UK and the Paris Stock Exchange in France reached all-time highs during the morning session on the 10th (local time).

The FTSE 100 index of the London Stock Exchange recorded 8,451.35 in the morning, up 0.8% from the previous day. The UK’s first-quarter economic growth rate came in at 0.6%, raising expectations for economic improvement. The FTSE 100 index set a new all-time high for five consecutive trading days based on closing prices and for four consecutive days during intraday trading, amid expectations of an interest rate cut by the Bank of England (BOE), the UK’s central bank.

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The CAC40 index of the Paris Stock Exchange also rose 0.8% from the previous day to 8,256.71, surpassing the previous record of 8,253.59 set on March 28. According to local media Le Figaro, this reflects expectations for a European economic recovery and easing monetary policies by central banks.

Following recent interest rate cuts by Switzerland, Sweden, and the Czech Republic, there are expectations that the European Central Bank (ECB) and the BOE will also cut interest rates this summer. Daniel Morris, Chief Market Strategist at BNP Paribas Asset Management, explained on CNBC, “Investors are optimistic about the European market, and this is now being reflected in the market.”