The European stock market rose for the fourth consecutive trading day, boosted by strong profit data, with WPP Plc leading the media sector. The European Stoxx 600 index rose 0.4%, surpassing the closing record set on Wednesday. Spain's IBEX 35 index and France's CAC 40 index also hit new highs. Media stocks performed the best, with WPP shares surging 18% after the advertising agency's profit for the first half of the year exceeded analysts' expectations. Among the more than 30 companies that announced financial reports today, Deutsche Telekom's stock price rose 5.6%, and Europe's largest telecom operator raised the size of its share repurchase program by up to 3 billion euros. The strong profit performance of European companies in the second quarter supported the market's view that the stock market's upward trend is expected to continue. More than half of the companies that have announced results as of Wednesday's MSCI European Index have surpassed expectations in terms of profit. Mark Haefele, chief investment officer at UBS Global Wealth Management, said that European stocks are one of the asset classes investors can use to diversify their centralized positions, adding that “Asian, European and high-quality bonds can help broaden income sources, increase income, and enhance the resilience of portfolios to risk.”

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