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European Stocks Cap Best Week Since March in Broad Risk-On Rally

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(Bloomberg) -- European stocks extended gains for a fifth day as risk-on bets poured into this year’s beaten-down sectors as US jobs data bolstered...

-- European stocks extended gains for a fifth day as risk-on bets poured into this year’s beaten-down sectors as US jobs data bolstered speculation that the Federal Reserve is done with interest-rate hikes.Harvard, Yale Warned by Top Law Firms About Antisemitism

Among other stocks, BMW AG rose after the company’s automotive operating margin exceeded expectations in the third quarter, with premium vehicle sales helping offset a weakened global outlook for the industry. Danish shipping and logistics company A.P. Moeller-Maersk A/S slumped after announcing plans to cut at least 10,000 jobs in order to shield its profitability in a shipping market that is set to remain weak until about 2026.

Carter said the US economy continues to be “incredibly robust and in a strong position, especially when compared to peers,” noted that the job market will need to be closely watched for “signs that the US consumer and corporate America is in trouble.

 

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