{"id":49214,"date":"2024-07-12T09:39:21","date_gmt":"2024-07-12T09:39:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/07\/12\/european-shares-extend-gains-on-fed-rate-cut-hopes\/"},"modified":"2024-07-12T09:39:21","modified_gmt":"2024-07-12T09:39:21","slug":"european-shares-extend-gains-on-fed-rate-cut-hopes","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/07\/12\/european-shares-extend-gains-on-fed-rate-cut-hopes\/","title":{"rendered":"European Shares Extend Gains On Fed Rate Cut Hopes"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"divBody\">\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks traded higher for a third straight session on Friday as surprising soft U.S. inflation data bolstered hopes for two Federal Reserve rate cuts this year.<\/p>\n<p>Trading later in the day may be impacted by data on U.S. producer price inflation along with a report on consumer sentiment, which includes readings on inflation expectations.<\/p>\n<p>Focus also shifts to the earnings season, with reports from financial giants JPMorgan Chase, Wells Fargo and Citigroup awaited.<\/p>\n<p>The pan European STOXX 600 was up 0.3 percent at 521.05 after rising 0.6 percent on Thursday. <\/p>\n<p>The German DAX gained 0.3 percent, France&#8217;s CAC 40 added 0.7 percent and the U.K.&#8217;s FTSE 100 was up 0.2 percent. <\/p>\n<p>Swedish telecom company LM Ericsson jumped 3.7 percent after EBITA, a key earnings metric, beat analysts&#8217; expectations in the second quarter. <\/p>\n<p>Similarly, Lifco AB soared 10 percent after posting better-than-expected quarterly earnings. <\/p>\n<p>Aker Solutions ASA surged 6.8 percent after its second-quarter profit beat expectations.<\/p>\n<p>Specialist fund manager Ashmore Group fell 2.3 percent after an update that its assets under management decreased by $2.4 billion over the period quarter ended 30 June 2024.<\/p>\n<p>Drug maker AstraZeneca rose about 1 percent, after having outlined its &#8216;bold ambition&#8217; to deliver $80bn revenue by 2030 during its recent Investor Day. Peer GSK rallied 1.4 percent. <\/p>\n<\/p>\n<p>Business News<\/p>\n<\/div><\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Extend Gains On Fed Rate Cut Hopes<\/a><br \/>\n<br \/>2024-07-12 09:39:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks traded higher for a third straight session on Friday as surprising soft U.S. inflation data bolstered hopes for two Federal Reserve rate cuts this year. Trading later in&#8230;<\/p>\n","protected":false},"author":2,"featured_media":49215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-49214","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=49214"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/49215"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=49214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=49214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=49214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}