European Shares Inch Higher In Cautious Trade
(RTTNews) - European stocks edged higher on Friday and were on track for their strongest week since May, driven by investor optimism over artificial intelligence and Fed rate cut hopes.
Investors also cheered the results of a survey that showed growth in the euro zone services sector accelerated slightly in September to an eight-month high.
Elsewhere, U.K. service sector growth eased to a five-month low as weak consumer confidence, delays to business spending decisions and falling exports all weighed on demand.
The pan European Stoxx 600 was up 0.4 percent at 569.77 after gaining half a percent on Thursday.
The German DAX edged up by 0.1 percent, France's CAC 40 added 0.3 percent and the U.K.'s FTSE 100 was up 0.6 percent.
In corporate news, Clariant, a Switzerland-based specialty chemical company, was moving lower after rejecting claims in lawsuits filed by BP and ExxonMobil.
Roche rose over 1 percent after saying that Claudia Suessmuth Dyckerhoff would not stand for re-election as a member of the pharma company's board of directors.
Pub giant JD Wetherspoon tumbled 4 percent after it warned of higher costs in the year ahead.
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