FX.co ★ European Stocks Extend Gains

The STOXX 50 index advanced by 0.5%, while the STOXX 600 saw a 0.3% increase on Friday, continuing a trend of gains for the second straight session. This upward movement is part of a broader surge in global market optimism catalyzed by the Federal Reserve's decision to lower the federal funds rate, coupled with a statement that was less aggressive than many analysts had anticipated. Bank stocks led the charge, with BNP Paribas rising by 1.4% following its announcement of exclusive negotiations to sell its 67% interest in the Moroccan bank BMCI to the Holmarcom Group. HSBC Holdings was up by 1.8%, UBS surged by 4.4%, and Barclays saw a 1.3% increase. In the retail sector, Adidas enjoyed a 2.4% gain, and Puma jumped by 4.5%, buoyed by Lululemon Athletica's improved annual profit projections. Over the course of the week, the STOXX 50 has increased by 0.5%, and the STOXX 600 by 0.4%.