European stocks rise supported by mining and energy sectors ‎

Shares of energy and mining companies led European stocks to rise on the last day of a week filled with major central bank decisions regarding monetary policy, as the US Federal Reserve set the tone for market expectations regarding the prospects for lowering interest rates.

According to Reuters, by 0805 GMT, the European STOXX 600 index rose 0.3%, heading for its fifth consecutive weekly gain.

The Federal Reserve hinted at reducing borrowing costs in 2024, while a group of central banks in Europe maintained their plans to tighten policy, but François Villeroy de Galhau, a policymaker at the European Central Bank, indicated on Friday that the next step for the bank should be to cut interest rates

According to Reuters, by 0805 GMT, the European STOXX 600 index rose 0.3%, heading for its fifth consecutive weekly gain.

Barclays (LON:BARC) expects the European Central Bank to cut interest rates by 25 basis points in April and continue successive cuts at each monetary policy meeting until January 2025.

Shares of mining and energy companies rose by more than one percent, topping sector gains, while the shares of the Swedish technology company Sectra jumped 15.1% after the second quarter results.