Noha Makram – Live – European stocks jumped on Friday, extending the gains of a week that was filled with a range of monetary policy decisions by major central banks.
The Stoxx Europe 600 index rose by 0.5% at midday trading, with mining stocks rising by 2.4% to lead the gains, with the majority of sectors and major stock exchanges trading in positive territory.
The European leading stock index closed yesterday, Thursday, at an increase of 0.9%, after recording its highest levels since January 2022.
On Wednesday, the Federal Reserve Bank announced that interest rates would be fixed in a range between 5.25% and 5.5%, but risk appetite in the markets rose after the US Central Bank revealed that policymakers expect to reduce interest rates at least three times next year.
The Bank of England and the European Central Bank also announced that interest rates would remain unchanged, but the British Central Bank refuted market expectations of a reduction in interest rates by maintaining its strict guidance that monetary policy may remain restrictive for a long period.
While the British Central Bank lowered its expectations for growth and inflation in the euro zone and announced plans to accelerate the reduction of its balance sheet.
US stock futures rose today, Friday, after the Dow Jones Industrial Average hit a new record high, with stocks heading for their best weekly series of gains since 2019.
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Nominations:
US stocks rose at the end of Thursday’s trading
European stocks rose at the end of Thursday’s trading
The European Central Bank holds interest rates and lowers its growth expectations
2023-12-15 11:22:58
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