European stocks continue post-Fed rally; H&M sales disappoint
Investing.com — European stock markets edged higher Friday, continuing the post-Fed rally even after the more cautious stances from the European Central Bank and the Bank of England.
At 03:05 ET (08:05 GMT), the DAX index in Germany traded 0.4% higher, the CAC 40 in France traded up 0.4% and the FTSE 100 in the U.K. rose 0.2%.
Both the European Central Bank and the Bank of England kept their interest rates unchanged on Thursday, as widely expected, but they also maintained plans to keep policy tight well into next year to combat inflation, which still remains above target.
The ECB said policy easing was not even brought up in a two-day meeting, the BOE said rates would remain high for «an extended period,» and Norway's central bank even hiked rates.
This contrasted with the Fed's pivot towards rate cuts, but sentiment remains bullish amid hopes the dominant U.S. economy will achieve a soft landing next year, dragging the rest of the world’s economies higher.
There’s plenty of economic data in Europe due Friday to guide the thinking of investors as the week comes to an end, and the festive period draws near.
French consumer prices fell 0.2% on the month in November, an annual rise of 3.5%, and the equivalent data from Italy is also scheduled.
December PMI data for France, Germany, the U.K. and the eurozone as a whole are also due, and should provide a hint of the likelihood of a regional recession to end the year.
There was some positive news out of China earlier Friday, as industrial production grew 6.6% year-on-year in November, more than expected and indicating some resilience after the country’s post-COVID economic rebound largely failed to materialize this year.
That said, China slid further into disinflation in
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