STOXX 600 set for best week in more than 3 months on US rate cut hopes
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(Reuters) – European shares opened higher for the fourth straight session on Friday as upbeat risk sentiment prevailed across global markets and investors geared up for a September rate cut by the Federal Reserve.
The pan-European STOXX 600 was up 0.3% by 0710 GMT, at two-week highs. The benchmark was set to witness its best week since May 6.
Almost all regional bourses were trading in the green, with Italy’s FTSE MIB outperforming peers with a 2.1% gain.
London’s FTSE 100 ticked 0.2% lower after British retail sales rose 0.5% in July, in line with forecasts.
Bayer rose 7% after it won a legal victory in its fight to limit liability from claims that its Roundup weed killer causes cancer.
Stellantis rose 2.6% despite the European-American automaker being sued by shareholders in the U.S. who said the firm defrauded them by concealing rising inventories and other weaknesses.
UBS gained 1.1% after the Swiss bank said it will liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse.
(Reporting by Pranav Kashyap in Bengaluru; Editing by Mrigank Dhaniwala)
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
