European Stoxx hits weekly high

The European Stoxx 600 index reached its highest level during the day and achieved its largest weekly gain in over a month, supported by gains in cyclical stocks and a decline in expectations of a U.S. interest rate hike. The index rose by 0.7%, closing at 652.35 points. Technology, defense, and electrical stocks posted strong gains, amid expectations that the Federal Reserve may delay interest rate hikes following a slowdown in U.S. job growth.

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