European stocks rise, STOXX 600 index hits record high

European stock markets climbed on Thursday, with the STOXX 50 index rising 0.3% to 6,415 points and the pan-European STOXX 600 index reaching a record high of 665 points. Market sentiment continued to benefit from a strong third-quarter earnings season and a decline in energy prices. Deutsche Bank stated that earnings growth for companies within the STOXX 600 accelerated from 22% to 28%, the fastest pace in four years. Meanwhile, Brent crude traded near $93 per barrel, well below recent highs, and European natural gas prices also fell due to increased supply from the Gulf region and easing concerns about a renewed escalation of conflict, helping to calm the markets. On the economic data front, figures from the UK Office for National Statistics (ONS) showed that the UK economy grew by 0.7% quarter-on-quarter in the third quarter, up from 0.5% in the previous quarter and in line with market expectations. September GDP also grew by 0.2%, exceeding expectations.