European stock markets stabilized after rising for nine consecutive weeks, the longest in 12 years

European stock markets held steady after the longest nine-week winning streak in nearly 12 years. The Euro Stoxx 600 was broadly flat at the London close. European stock markets have been on record tension, with comments from a number of central banks last week supporting investors’ bullish stance on risk assets. The SNB’s surprise rate cut and the dovish outlook of Fed Chair Jerome Powell and BoE Governor Bailey gave investors a reason to position for easing. Mohit Kumar, strategist and chief European economist at Jefferies, said: "While we can debate when the next rate cut will come, the fact is that global central banks are heading for an easing cycle. In addition, Goldman Sachs’ Lilia Peytavin became the latest strategist to raise the Euro Stoxx 600 target for the next 12 months to 540 points, citing a positive macroeconomic outlook and interest rate cuts.