European stocks rallied on Friday after the European Central Bank signaled that Thursday’s rate hike could be the last hike in the current cycle. <\/p>\n
Improved retail sales and industrial production data from China also boosted sentiment.<\/p>\n
The pan European STOXX 600 was up 0.9 percent at 464.80 after rallying 1.5 percent on Thursday. <\/p>\n
The German DAX climbed 1 percent, France’s CAC 40 jumped 1.4 percent and the U.K.’s FTSE 100 was up 0.6 percent. <\/p>\n
Luxury stocks were moving higher, buoyed by more stimulus measures from China. <\/p>\n
Kering jumped 2.7 percent, LVMH added 3.5 percent, Hermes rose 2 percent and Richemont advanced 3.8 percent. <\/p>\n
Swedish retailer Hennes & Mauritz AB slumped 5 percent after third quarter net sales lagged expectations. <\/p>\n
French automaker Renault rose 1.6 percent on expectations that it could gain if the EU imposed tariffs on Chinese electric car imports.<\/p>\n
Germany’s Bayer rose 1.2 percent on news that its new CEO plans to cut management jobs as part of efforts to overhaul the embattled industrial group.<\/p>\n
Vinci SA, a concessions and construction firm, gained 1.2 percent after its unit, Vinci Construction Grands Projets, has bagged a 160 million euros contract to design and build a 180,000 m3 liquefied natural gas or LNG tank in The Netherlands.<\/p>\n
Chrysler parent Stellantis rose about 1 percent after U.S. auto workers launched a strike at Detroit’s big three firms. <\/p>\n
Games Workshop shares soared 10 percent. The maker of Warhammer revealed in a trading update that sales over the past three months jumped ahead of expectations.<\/p>\n
Power Metal Resources surged 4.3 percent after announcing it has found two significant gold anomalies at its Tati gold project in Botswana. <\/p>\n