17.06.202616:09:03UTC+00European Stocks Rise to Fresh Records

European stock indices advanced for a fifth consecutive session to fresh record highs on Wednesday, supported by easing inflationary pressures. The Euro STOXX 50 gained 0.6% to reach 6,297, while the STOXX Europe 600 climbed 0.5% to 639.

Sovereign bond yields extended their decline as Iran and the US reaffirmed their intention to finalize an agreement this Friday that would restore energy trade from the Middle East. The pullback in energy prices tempered expectations that the ECB will need to raise interest rates this year.

Banks led the market higher again on the back of an improved credit outlook, with Santander, UniCredit, and Deutsche Bank each rising by around 2.5%. In contrast, BMW shares fell more than 6% after the automaker cut its guidance, citing deteriorating conditions in the Chinese market and the wider impact of the Middle East conflict.