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European stocks edged higher on Friday and were set to post their best annual gain since 2021 on hopes that global central banks led by the Federal Reserve could cut interest rates next year.
European stocks closed lower on Thursday, weighed down by a bit of profit taking after recent gains that have taken several markets in the region to record highs amid rising optimism the Federal Reserve will cut interest rate soon.
The CAC-40 gained tracking European peers as well as Asian and Wall Street markets that traded on a positive note..
Renewed expectations of rate cuts by the Federal Reserve and the positive sentiment in Wall Street on Tuesday is seen helping European markets resume trading on Wednesday on a strong note.
European stocks are likely to drift lower at open on Friday as investors await the last key U.S. inflation reading before Christmas. November's personal consumption expenditure index is due later in the day, with analysts expecting a 0.