European markets climb as Fed rate cut optimism outshines trade war fears

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European markets were boosted by heightened hopes of Federal Reserve rate cuts. Photo by Ian Waldie/Getty Images

European markets climbed on Friday as renewed optimism of a Federal Reserve rate cut outshone trade war tensions.

The continent’s main indices made substantial gains, with the Stoxx 600 SXXP, +0.40% up 0.5%, the DAX DAX, +0.26% rising 0.7% and the CAC PX1, +0.18% gaining 0.5%.

What’s moving the market?

U.S. stocks were led higher on Thursday after New York Fed president John Williams said it “pays to act quickly to lower rates at the first sign of economic distress.

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