European stocks rise, supported by hopes that Fed will stop ‎rate hikes

European stocks rose today, Friday, on the verge of recording weekly gains for the fourth week in a row, supported by hopes that the Federal Reserve (the US central bank) will soon stop raising interest rates after recording less-than-expected inflation in March.

According to “Reuters”, the European Stoxx 600 index rose 0.3 percent by 0707 GMT, after data showed overnight that producer prices in the United States fell unexpectedly in March.

The real estate sector index led the gains, up 0.7 percent, while the insurance sector shares fell 0.6 percent.

Stoxx 50 index of blue-chips maintained its highest level in 22 years, which it recorded on Wednesday, and rose 0.3 percent.

Hermes Group rose 0.9 percent, supported by a 23 percent increase in sales in the first quarter, exceeding market expectations.

Investors will be closely watching the results of US companies, which will begin to be announced later on Friday, with a focus on major banks, including JPMorgan, Wells Fargo and Citigroup, as the regional banking crisis loomed in the past month.