HM posts surprise profit in DecFeb
Vestas wins order in Brazil
Spain March inflation falls more than expected

March 30 Reuters European stocks rose to threeweek highs on Thursday, lifted by signs of cooling inflation, upbeat results from retail giant HM and fading concerns about the global banking sector that sparked a rally on Wall Street overnight.

The panEuropean STOXX 600 index rose 0.8, hitting it strongest level since March 10, after major U.S. stock indexes rallied on Wednesday.

The benchmark SP 500 closed above its 50day moving average for the first time since March 6, before the onset of the bank crisis.

It39;s a combination of easing banking fears and expectation that we are very close to peak rates which is lifting indices, said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

With contagion appearing to be contained for now, it39;s providing relief for real estate stocks amid hopes that interest rate hikes are nearly at an end.

Europe39;s real estate sector jumped 3.2, as immediate concerns about prospects for the highly leveraged sector eased after a heavy drop in March dragged it close to 10year lows hit last year.

Banks rose 1.8 to hit a oneweek high, as investors took heart from the sale of failed Silicon Valley Bank39;s assets and takeover of embattled Swiss lender Credit Suisse.

Further helping the mood, data showed Spain39;s consumer price inflation slowed to 3.3 in March, its weakest annual rate since August 2021 and down…