European markets are ending the week on a positive note, with renewed hopes for rate cuts by the U.S. Federal Reserve bolstering market sentiment.grew by a relatively healthy 0.6% in the first three months of 2024, above the expected 0.4%, ending the shallow recession it entered in the second half of last year.
Money market traders see around a 45% chance of a rate cut at next month's policy meeting, while around 58 basis points of easing are priced in by the year end.The central bank has already signaled a rate cut is coming in June, and investors will be looking to see if there are any clues of the timing of further cuts as the year progresses.
The parent of British Airways, which also owns Iberia and Aer Lingus, also reported a sharp rise in first-quarter revenue, adding it is ready for the peak summer travel season.) stock rose 3% after the Italian lender reported a 42% jump in net profit in the January-March period on an annual basis, adding it would pay E421 million as an interim dividend this month.Crude prices rose Friday, on track for a weekly gain, after this week’s data from the U.S.
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