Stock markets in Europe soared to the highest they have been since the infamous financial crisis of 2008 on Wednesday. Pushing up the trading was good news from the US economy and the anticipation of additional support for growth and expansion from key central banks.
The outcome of the meetings scheduled this week is for the European Central Bank, the Bank of England, and the Bank of Japan to all agree to adhere to the simple-to-follow monetary policies. This was decided when the US Federal Reserve assured the banks that the US stimulus policy will remain in place.
This situation combined with optimistic economic statistics sent the New York market’s Dow Jones Industrial Index to an historic high on Tuesday. In response the European markets joined in an upward direction the next day.
"It's panic buying," said Nick Xanders, who heads up European equity strategy at BTIG. "At this stage everyone wants to buy it, everyone wants to get involved, and everyone is scared of underperforming."