European stocks extended gains on Friday, with the STOXX 50 up 0.3%, reaching fresh 2000 highs, and the STOXX 600 rising 0.3% to new all-time highs.
European stocks rise on earnings, inflation data
Investors analyzed corporate earnings while awaiting key inflation data. French inflation fell below expectations, with the harmonized rate holding steady at 1.8%, while Germany’s preliminary figures are due later today. The ECB's fifth consecutive rate cut yesterday reinforced progress in the disinflation process.
On the corporate front, ASML Holding rose over 2%, and Novartis gained 2.7% after strong Q4 earnings and sales.
Smiths group soars 12%, STOXX posts strong January
Schneider Electric and Prosus also saw gains, while Smiths Group surged over 12% after announcing plans to divest parts of its business to focus on high-performance industrial technologies. For January, the STOXX 50 climbed 8%, while the STOXX 600 gained 6.5%.
