The STOXX 50 index edged up 0.1% to 5,390 points on Friday, its highest since late August, while the broader STOXX 600 also gained 0.1% to 555 points, as a jump in US jobless claims and a modest rise in inflation reinforced expectations of Federal Reserve rate cuts next week and beyond.
Meanwhile, the ECB signaled its rate-cutting cycle is over, with President Lagarde saying the bank is in a "good place" and that growth risks are now more balanced. In corporate news, Banco Sabadell slipped 0.6% after its board unanimously rejected BBVA's €15 billion takeover offer, urging shareholders not to tender their shares.
Elsewhere, Ryanair CEO Michael O'Leary told the Financial Times the airline may slash an additional 1 million tickets to Spain in protest over the country's tax policies. On the data front, the UK economy stagnated in July following a 0.4% expansion in June, a development closely watched by the Bank of England ahead of next week's policy meeting.
Source: Trading Economics
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