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European stock markets are expected to close at record highs for the first time since May.
European stock markets are reclaiming lost ground from the summer and are expected to close at record highs for the first time since May, as strong economic data eases concerns about U.S. recession and investors bet on a Fed rate cut. The benchmark Stoxx Europe 600 index briefly rose 0.8% to 524.75 points, above the May closing high of 524.71 points, still below the intraday high of 525.59 reached in June. Danish pharmaceutical company Novo Nordisk, Dutch chip equipment company ASML, German software company SAP, and British pharmaceutical company AstraZeneca contributed to over a quarter of the index's gains this year. Danish pharmaceutical company Zealand.
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