European Shares Climb Amid Positive Sentiment and Anticipation of Federal Reserve Rate Cut
European shares rose for the fourth consecutive session on Friday, buoyed by positive global market sentiment and expectations of a September rate cut by the Federal Reserve. The pan-European STOXX 600 reached two-week highs, with almost all regional bourses trading positively. Notable movements included gains for Bayer, Stellantis, and UBS.
European shares opened higher for the fourth straight session on Friday, as positive risk sentiment prevailed across global markets and investors anticipated a September rate cut by the Federal Reserve.
The pan-European STOXX 600 rose 0.3% by 0710 GMT, reaching two-week highs. The benchmark poised itself for its best week since May 6, with nearly all regional bourses trading in the green. Notably, Italy's FTSE MIB led the gains with a 2.1% increase.
London's FTSE 100 slightly dipped by 0.2% following a 0.5% rise in British retail sales for July, aligning with forecasts. Bayer surged 7% after securing a legal victory regarding its Roundup weed killer litigation. Stellantis gained 2.6% despite facing a lawsuit from U.S. shareholders accusing the firm of fraud. UBS rose 1.1% as the Swiss bank announced plans to liquidate a $2 billion real estate fund acquired from Credit Suisse.
(With inputs from agencies.)
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