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Market Analysis

Expectations of a US rate decrease have the STOXX 600 having its best week in over three months
Amos Simanungkalit · 17.2K Views

16

European shares opened higher for the fourth consecutive session on Friday, buoyed by positive global market sentiment and expectations of a Federal Reserve rate cut in September.

The pan-European STOXX 600 index rose 0.3% by 0710 GMT, reaching its highest point in two weeks and set to record its best week since May 6.

Most regional indices were in the green, with Italy's FTSE MIB leading the way with a 2.1% increase.

In London, the FTSE 100 slipped 0.2% after British retail sales increased by 0.5% in July, meeting forecasts.

Bayer saw a 7% rise following a legal victory that limits its liability for claims that its Roundup weed killer causes cancer.

Stellantis climbed 2.6%, despite being sued by U.S. shareholders who allege the company misled them about rising inventories and other issues. UBS gained 1.1% after announcing it will liquidate a $2 billion real estate fund acquired during its takeover of Credit Suisse.

 

 

 

 

Paraphrasing text from "Reuters" all rights reserved by the original author.

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