European stocks rise on rate cut bets

European stocks rose in early trade on Tuesday and global shares were near their highest since April 2022 as traders bet on rate cuts next year, while the yen fell after the Bank of Japan stuck to its ultra-easy monetary policy.

In a widely expected move, the Bank of Japan kept its ultra-low interest rates unchanged. It also made no change to its dovish policy guidance, dashing hopes among some traders it would tweak the language to signal a near-term end to negative interest rates.

The yen tumbled, with dollar-yen up 1.2% at 144.5 at 0924 GMT and euro-yen up 1.3% at 158.17 . The Nikkei rose in relief, led by technology shares (.N225), and Japanese government bonds yields fell.

Fidelity European Trust PLC (LON:FEV) aims to be the cornerstone long-term investment of choice for those seeking European exposure across market cycles.

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