European stocks ended at a three-month high Thursday, with a rally in Infineon Technologies AG helping to push the region’s benchmark to a second straight session of gains.
The Stoxx Europe 600 rose 0.9% to 384.37, its best finish since Aug. 18, according to FactSet data. Thursday’s win builds on Wednesday’s 1.4% rally, which came after a report that the European Central Bank is looking at expanding stimulus measures for the eurozone.
The euro EURUSD, was stuck at around seven-month lows on Thursday, buying $1.0609 compared with $1.0619 late Wednesday. The shared currency dipped below $1.06 on Wednesday after Reuters reported that ECB policy makers were thinking about widening the scope of their bond buying program or implementing a two-tier penalty charge on banks that leave cash with the central bank.
Aided by losses of the euro, German stocks climbed for a second consecutive session. The DAX 30 DAX, jumped 1.4% to 11,320.77, hitting its strongest level since mid-August. The index on Wednesday rallied 2.2%.
In Frankfurt Thursday, shares of Infineon Technologies AG charged up 12.9%, topping both the DAX and the Stoxx 600. The best session since May 2009 came after the German chip maker said quarterly profit almost doubled, helped by earnings at its recent acquisition, International Rectifier.
France’s CAC 40 PX1 rose 1.1% to 4,946.02, and the U.K.’s FTSE 100 closed up 0.9% at 6,393.13, led by gains for miners.
Equity trading in the U.S. is closed Thursday for Thanksgiving Day.