Posted 1/27/2024, 5:02:39 AM
European Stocks Climb on Strong US Market and Sales Data While ECB Takes Cautious Stance
- European markets rose this week, benefiting from record highs for the S&P 500 and upbeat economic data
- Luxury stocks like LVMH, Pernod Ricard, and Kering were top gainers on the CAC 40 after positive sales reports and acquisitions
- The ECB kept interest rates steady this week, taking a more data-driven approach before cutting rates
- US Q4 GDP slowed to 3.3% growth but beat estimates of 2% growth
- German consumer confidence dropped to an 11-month low in February, falling short of expectations