European shares hit their highest in over a year on Friday and ended their fourth straight week in the green, buoyed by positive earnings from major US banks and hopes of an end to the Federal Reserve’s rate-hiking cycle.
The pan-European STOXX 600 closed up 0.6% on Friday, after hitting its highest level since February 2022 earlier in the session. The index gained 1.7% for the week, clocking its longest weekly winning streak so far in 2023.
The blue-chip STOXX 50 index also advanced 0.6%, hitting a 22-year peak.
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