European equities pushed slightly higher on Friday, positioning the region’s markets for their strongest week in several months, as investor sentiment was buoyed by optimism around artificial intelligence and expectations of U.S. Federal Reserve rate cuts.
Confidence also improved after survey data showed the eurozone’s services sector expanded at its fastest pace in eight months in September. By contrast, the U.K.’s services industry slowed to a five-month low, pressured by fragile consumer confidence, postponed business investments, and weaker export demand.
The pan-European Stoxx 600 gained 0.3% in morning trade, extending Thursday’s 0.5% advance. Among major national indexes, London’s FTSE 100 added 0.5%, while France’s CAC 40 slipped 0.1% and Germany’s DAX edged down 0.2%.
In company-specific moves, Swiss chemicals group Clariant (BIT:1CLN) declined after dismissing claims raised in lawsuits by BP and ExxonMobil. U.K. pub chain JD Wetherspoon (LSE:JDW) dropped sharply after cautioning investors about rising costs in the coming year.
On the upside, Roche (BIT:1ROG) traded higher after announcing that Claudia Suessmuth Dyckerhoff would not seek re-election to the pharmaceutical giant’s board of directors.
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