Bank shares lift European stocks to over one-year high

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.

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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