欧元50指数升至5702.00点的历史高点。在过去的4周里，欧元区股市指数（EU50）上涨了3.53%，在过去的12个月里，它上涨了14.72%。

EU50 increased to an all-time high of 5702.00 Index Points. Over the past 4 weeks, Euro Area Stock Market Index (EU50) gained 3.53%, and in the last 12 months, it increased 14.72%.

正如预期的那样，2025年9月，欧元区家庭银行贷款同比增长2.6%，为2023年3月以来的最高水平。这一增长继续反映了信贷需求的持续复苏，这得益于欧洲央行最近的宽松政策。此外，企业贷款增长2.9%，低于8月份的3%。与此同时，私营部门的整体信贷增长率为2.8%，与上月持平。

Bank lending to households in the Eurozone rose by 2.6% year-on-year in September 2025, the highest since March 2023, as expected. The increase continues to reflect a continued recovery in credit demand, supported by the European Central Bank’s recent policy easing. Also, lending to businesses rose 2.9%, lower than 3% in August. Meanwhile, overall credit growth to the private sector was 2.8%, the same as in the previous month.

欧洲股市在10月的最后一周以绿色开局，STOXX 50指数上涨0.3%，STOXX 600指数上涨0.1%，均接近历史高点，并追随全球股市的涨势。有报道称，美国和中国官员达成了一项贸易协议的初步框架，将于周四在韩国举行的会议上获得特朗普总统和Xi总统的批准，这支持了市场情绪。与此同时，交易员们正在为本周的一系列关键货币政策决定做准备，包括欧洲央行和美联储的决定。预计欧洲央行将保持借贷成本不变，而普遍预计美联储将把联邦基金利率下调25个基点。在企业方面，ASML控股公司上涨1.2%，保时捷继续上涨（3.9%）。相比之下，诺华公司在宣布以120亿美元收购生物技术公司Avidity Biosciences的计划后下跌0.9%，汇丰银行在披露与麦道夫欺诈案中损失资金的投资者索赔相关的11亿美元准备金后下跌0.9%。

Stocks in Europe kicked off the last week of October in the green, with the STOXX 50 rising 0.3% and the STOXX 600 up 0.1%, both nearing record highs and tracking gains in global equities. Sentiment was supported by reports that US and Chinese officials reached a preliminary framework for a trade deal, to be approved by Presidents Trump and Xi during their meeting on Thursday in South Korea. Meanwhile, traders are bracing for a series of key monetary policy decisions this week, including from the ECB and the Fed. The ECB is expected to keep borrowing costs unchanged, while the Fed is widely anticipated to cut the federal funds rate by 25bps. On the corporate front, ASML Holding gained 1.2% and Porsche extended gains (3.9%). In contrast, Novartis fell 0.9% after announcing plans to acquire biotechnology firm Avidity Biosciences in a $12 billion deal, and HSBC declined 0.9% after disclosing a $1.1 billion provision related to claims from investors who lost money in Madoff’s fraud.

欧元徘徊在1.16美元左右，与上周的水平相比几乎没有变化，因为市场进入了一个关键的一周，充满了全球贸易谈判、央行会议和欧洲各地的关键经济数据发布。投资者对美中贸易谈判取得进展的迹象表示欢迎，现在人们的注意力转向特朗普总统和Xi将于周四举行的会晤，预计此次会晤将最终确定周末讨论的初步协议的框架。与此同时，人们普遍预计欧洲央行（ECB）将在周四的会议上保持利率稳定，而在劳动力市场放缓和通胀低于预期的迹象下，预计美联储将削减借贷成本。本周晚些时候，欧元区将公布第三季度GDP数据和10月份通胀数据，进一步了解该地区的经济前景。

The euro hovered around $1.16, little changed from the previous week’s levels, as markets entered a crucial week filled with global trade negotiations, central bank meetings, and key economic data releases across Europe. Investors welcomed signs of progress in US–China trade talks, with attention now turning to the upcoming meeting between Presidents Trump and Xi Jinping on Thursday, expected to finalize the framework of a preliminary deal discussed over the weekend. Meanwhile, the European Central Bank (ECB) is widely expected to hold interest rates steady at its Thursday meeting, while the US Federal Reserve is anticipated to cut borrowing costs amid signs of a slowing labor market and weaker-than-expected inflation. Later in the week, the Euro Area will release flash third-quarter GDP figures and October inflation data, providing further insight into the region’s economic outlook.