Tech surge propels STOXX 600 to near one-week high
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Europe's STOXX 600 ended the week on a high note, bolstered by a rally in tech stocks, while investors analysed the euro zone inflation report to assess the likelihood of a larger interest rate cut in December. The pan-European main stock index reversed earlier losses and was up 0.6% at 510.25 points on Friday, logging its first monthly gain since August. It rose 1% in November. On a weekly basis, it logged a modest 0.2% decline. Technology stocks were the biggest boost to the index, gaining 1.6%. Trading volumes were expected to be low, with the U.S. equity market open for half a day following the Thanksgiving holiday on Thursday. Euro zone flash inflation rose to 2.3% on a yearly basis in November, in line with forecasts. Markets are now pricing in a more than 80% chance of a 25 basis-point cut at the European Central Bank's meeting on December 12. Capital Economics' analysts think the case for a 50 basis point cut still ...