Posted 4/12/2024, 6:09:23 AM
European Markets Rise as Investors Assess Economic Data, ECB Signals Rate Cut
- European markets were higher on Friday as investors parse economic data and U.S. inflation outlook. Stoxx 600 up over 1%.
- UK shows signs of economic rebound with 0.1% GDP growth in February.
- ECB signals likely upcoming rate cut despite uncertainty over Fed's next moves.
- Lower oil demand growth forecasts from IEA for 2023 and 2024 on weak OECD deliveries.
- UK gilt yields fall as sterling declines against dollar; markets reassess rate path.