European stock market situation: European stocks closed at their highest

[Prarie]

European stock market situation: European stocks closed at their highest in 22 months on hopes of lower interest rates next year.

European stock markets closed positive on Friday (December after hitting their highest level since February. 2022 and closed positive for the 4th week as traders expected Central banks have finished raising interest rates. and will change to lower interest rates next year

The STOXX 600 Index closed at 472.26 points, an increase of 3.48 points or +0.74%, having increased 1.3% this week. and has increased 11% this year.

The CAC-40 index of the French stock market closed at 7,526.55 points, an increase of 98.03 points or +1.32%, the DAX index of the German stock market closed at 16,759.22 points, an increase of 130.23 points or +0.78%, and the FTSE 100 index of the London stock market closed at 7,554.47 points, an increase of 40.75 points or +0.54%

Travel and recreation stocks jumped 4.9%, leading the market's gains this week. Meanwhile, the energy and mining sectors fell the most this week.

Recent disclosures confirm that Germany's inflation fell in November. which supports the prediction that Interest rates in the Eurozone have reached their highest level. Meanwhile, the release of strong US employment data supported investor sentiment.

Analysts stated that Factors that help support the European market include: The increasing expectation that The European Central Bank (ECB) will start cutting interest rates next year. due to inflation and the European economy slowing down

For the movement of individual stocks Shares in Kering, which owns the Gucci brand, jumped 2.6 percent after announcing an interim dividend for 2013.

Other luxury stocks, including LVMH and Hermès, rose 3.3% and 1.5%, respectively, and the group's index rose 2.0%.

Sainsbury's shares rose 1.6% after Goldman Sachs increased its investment recommendation on this stock to "buy" from "maintain investment weight."

Vivondi shares rose 2.4% as they will be included in France's CAC40 index instead of Worldline stocks from Dec. 18.