European stocks climb for sixth time in eight trading sessions

The path of least resistance was higher as European stocks on Friday advanced for the sixth time in eight tries on hopes for both monetary policy and fiscal stimulus.

The gains in the U.K. were particularly strong as the Bank of England’s Michael Saunders — who in 2017 voted for rate hikes — said the central bank might want to consider reducing interest rates even if the U.K. government reaches an agreement with the European Union over departing. “The spreading economic downturn and the lack of room for monetary policy have increased calls for fiscal policy to step up. We firmly believe that this will be a growing theme over the coming months and quarters and will eventually have a significant impact on markets,” the strategists told clients.

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