The Stoxx 600 Index rose 0.9% as of 10:15 a.m. in London, driven by luxury and mining stocks as data showed China’s industrial production and retail sales growth jumped last month. The main regional index is up 2.2% this week, the biggest weekly advance in two months, amid positive signs from China.
Chinese authorities also increased economic support this week aimed at stimulating the crucial construction and property industries, helping metals to surge. That’s in turn boosted mining stocks, which have been at the forefront of Europe’s bounce this week after a slow start to the month. What’s more, signals that the ECB is probably done raising rates in this cycle also helped the sentiment. Focus will turn next week to the Federal Reserve, which is expected to hold rates steady.
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