European stock markets have reached new record highs, buoyed by expectations of an interest rate cut from the European Central Bank (ECB). Germany's DAX index has climbed to an all-time high, reflecting investor optimism ahead of the ECB's monetary policy decision. The DAX's rise comes despite a notable decline in Deutsche Bank's shares, which fell approximately 4% following a profit miss. Meanwhile, London's FTSE 100 has also achieved record levels, surpassing 8,600 points for the first time and closing at 8,677. The positive market sentiment is attributed to the anticipated ECB rate cut, which has encouraged buying across various sectors, including Shell and Nokia, both of which have reported earnings gains.