London (UKX) +0.6%
Germany (DAX:IND) +0.6%
France (CAC:IND) +0.5%
Spain November manufacturing PMI 46.3 vs 45.5 expected.
Goldman Sachs has revised its outlook for the European Central Bank, and now expects a rate cut in Q2 of next year vs. prior forecast of Q3.
The pan-European Stoxx 600 (STOXX) was up 0.5% on Friday after closing out their best month since January amid a global rally in stocks and bonds. On the data front, traders awaited manufacturing PMIs from countries across Europe for a clearer picture of the region’s economy. Citigroup meanwhile said on Friday, it expected the pan-European benchmark index STOXX 600 (STOXX) to end 2024 at 510 points, around 10.5% above current levels. Elsewhere, Federal Reserve Chair Jerome Powell is scheduled to speak at an event.
In the bond market, the U.S. 10-year Treasury yield down 1 basis point to 4.34%.
Germany’s 10-year yield was up less than 1 basis point to 2.45%.
U.K.’s 10-year yield was up 4 basis points to 4.21%.
Coming up in the session: November final manufacturing PMI data out of France, Germany, Euro Zone, Italy and UK.
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