(fxcue news) - European stocks closed higher on Thursday amid optimism the Chinese government will announce more stimulus measures to help spur growth in the nation's economy, and on hopes the Federal Reserve will cut interest rates further in the coming months. China's politburo vowed to step up fiscal support to stabilize the beleaguered property sector. Investor sentiment was also underpinned after the Organization for Economic Co-operation and Development (OECD) slightly raised its global economic growth forecast for 2024 and said it expects more Fed rate cuts next year. Meanwhile, the Swiss National Bank reduced its key policy rate by 25 basis points for the third straight meeting and signaled that further cuts in the SNB policy rate may become necessary in the coming quarters to ensure price stability over the medium term. In economic releases, survey data published jointly by GfK and the Nuremberg Institute for Market Decisions showed that German consumer confidence will recover moderately in October despite weaker economic outlook. The forward-looking consumer sentiment index rose to -21.2 in October from -21.9 in September. The score was forecast to fall to -22.4. Elsewhere, the latest British Retail Consortium (BRC) Consumer Sentiment Monitor has revealed that U.K. consumer confidence has fallen in September due to concerns about both the economy and personal finances. The pan European Stoxx 600 climbed 1.25%. The U.K.'s FTSE 100 advanced 0.2%, Germany's DAX and France's CAC 40 surged 1.69% and 2.33%, respectively. Switzerland's SMI gained 0.5%. Among other markets in Europe, Austria, Belgium, Finland, Greece, Iceland, Netherlands, Poland, Spain and Sweden closed higher. Denmark, Norway, Portugal and Turkiye ended weak, while Russia closed flat. In the UK market, Anglo American Plc and Prudential, both gained about 6.1%. Antofagasta, Standard Chartered, Glencore, Diageo, Spirax Group, Rio Tinto, Weir Group and Entain climbed 3 to 6%. Fresnillo, Natwest Group, Ashtead, Croda International, B&M European Value Retail, IMI, Convatec, Beazley, Frasers Group and HSBC Holdings gained 2 to 2.75%. Shell and BP ended down 4.6% and 4.1%, respectively. British American Tobacco, BAE Systems, Tesco, Endeavour Mining, Barratt Developments, RightMove, Relx and Imperial Brands lost 1 to 3%. In the German market, Sartorius rallied more than 8%. Commerzbank gained nearly 7%. The bank, which is the takeover target of Italian lender UniCredit SpA, confirmed its strategy, expecting higher net profit and return on equity by 2027. Siemens, Adidas, Porsche, Continental, Infineon, BMW, Mercedes-Benz, Brenntag and Merck climbed 3 to 4.5%. Evotec gained 3.5% after the drug and development company entered into a technology development partnership with Novo Nordisk. Daimler Truck Holding, RWE, Deutsche Post, Zalando, HeidelbergCement, Beiersdorf, Volkswagen, Deutsche Bank and Vonvoia also ended sharply higher. Puma gained about 2% as it announced the appointment of Markus Neubrand, aged 48, as its Chief Financial Officer and a Board member. Rheinmetall, Symrise, Siemens Energy, Henkel, Deutsche Boerse and Covestro lost 0.6 to 1.6%. In the French market, LVMH, Kering and Hermes International soared 9 to 10%. L'Oreal gained nearly 7%. Pernod Ricard, ArcelorMittal, Eurofins Scientific, Capgemini, STMicroElectronics, Societe Generale, Dassault Systemes, Unibail Rodamco, Renault and Saint Gobain climbed 2 to 6%. Teleperformance dropped 4.7%. Thales, TotalEnergies, Orange and Engie ended down 1.3 to 2.5%.