European Markets Climb Amid Bond Yield Easing
European stocks rose on Friday with the STOXX 600 reaching its fourth weekly gain as government bond yields eased. The UK's FTSE 100 outperformed, expecting a potential rate cut by the Bank of England. Glencore and Rio Tinto saw stock increases, though merger talks have ceased.
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European shares saw broad-based gains on Friday with government bond yields easing, positioning the STOXX 600 for its fourth consecutive weekly gain.
The pan-European STOXX 600 was poised for a significant weekly increase, rising by 0.4% at 0815 GMT with construction and materials stocks leading the way by advancing 0.8%, followed closely by utilities climbing 0.7%.
Bond yields across Europe declined, with the German 10-year bund yield dipping for the third day to 2.494%. The UK's FTSE 100 outperformed other European markets, rising by 0.8% after a surprising decline in December retail sales, hinting at a possible interest rate cut by the Bank of England. Notably, Glencore rose by 1.9% while Rio Tinto increased by 1.2%, though merger talks between the two companies have halted, according to Reuters.
(With inputs from agencies.)
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