European stocks ended a choppy session on a down note Thursday. The pan-European index was supported by broad-based gains in the banking sector, after Credit Suisse Group AG provided an upbeat outlook and vowed to return a large chunk of profits to investors. Oil companies, however, lost ground as oil prices turned mixed as OPEC agreed to extend output curbs.
U.S. stocks rallied Thursday, with the Dow finishing above 24,000 for the first time in history, as investors grew more optimistic about the prospects for a tax overhaul out of Washington. All major indexes closed higher for the month, with the S&P 500 and Dow logging new records, while the blue-chip index set its longest streak of monthly gains in more than 22 years.
Asia-Pacific stocks largely returned to positive territory by midday, with Chinese equities recovering from much of their early declines. After opening slightly lower, Shenzhen stocks – where smaller companies are generally listed, as opposed to more industrial-focused and state-owned firms in Shanghai – rebounded.