European Stocks Post Best Week Since March as Earnings Kick Off
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European stocks posted their biggest weekly advance since March on rising bets that the Federal Reserve’s monetary tightening cycle is nearing an end, while the start of a challenging earnings season poses a threat to the rally in the second half of the year.
The Stoxx Europe 600 Index was little changed by the close in London, capping a weekly gain of about 3%. Financial services and tech outperformed Friday, while energy, telecoms and insurance were laggards. The first batch of earnings results from big Wall Street banks broadly underscored the economy’s resilience.