FRANKFURT: European shares ended higher on Friday, capping a strong weekly advance and closing the month on a robust note, supported by optimism over potential US rate cuts.
The pan-European STOXX 600 closed 0.23 percent higher at 576.34, hitting its longest monthly winning streak since March 2024. Bourses in Germany and France added 0.25 percent and 0.3 percent, respectively.
The broader banking index was steady for the day, having risen 4.5 percent this week, supported in part by the UK budget, which spared the sector from tax rises.
“They were expecting something like potentially a levy on banks to come through in the UK budget, and nothing came through, which was good news for that sector,” said Michael Field, chief equity strategist at Morningstar.
The sector was also the top performer for the month, up over 4 percent, its fifth-straight monthly rise, as investors shifted amid concerns over valuations that drove a global tech sell-off this month.nd currencies.
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