European markets rise, heading for weekly gains; Gucci-owner Kering climbs 5.7%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 18 2024
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Source: CNBC
European Market Performance: European markets saw gains on Friday, driven by mining and luxury stocks, with the pan-European Stoxx 600 up 0.25%. The European Central Bank's recent interest rate cut contributed to positive market sentiment, while luxury brands benefited from encouraging economic data from China.
Retail Sales and Economic Outlook: In the U.K., retail sales rose 0.3% in September, contrary to expectations of a decline, indicating stronger consumer spending. Meanwhile, Volvo Group reported a decline in sales and operating income for the third quarter, reflecting normalized demand after last year's high levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
