European stocks edged higher on Friday, set for their longest weekly run of gains since early December on speculation the Federal Reserve and other central banks are nearing the end of their hiking cycles.
The Stoxx 600 added 0.4 per cent, set for a fourth straight weekly advance, its longest since Dec. 2. MSCI Inc.'s World Index rose for a second day, headed for its highest close in 10 weeks.
“Risk appetite returned to markets over the last 24 hours, aided by some weak U.S. data that supported expectations the Fed might soon call it a day on their rate hikes,” Deutsche Bank AG strategists led by Jim Reid wrote in a note. “Investors will remain wary of any indication that the regional banking turmoil has translated into materially tighter lending standards throughout the system,” BMO strategists Ian Lyngen and Benjamin Jeffery wrote in a note.
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