European Stocks Reach Highest Level Since Early 2022

Investors anticipate central banks to switch to interest rate cuts next year amid mixed market reactions.

Europe's benchmark STOXX 600 index rose to its highest level since February 2022, encouraged by an upbeat read of the U.S. labour market.
The index has rallied over 10% since October 27 as traders bet that the world's biggest central banks have finished raising interest rates and will switch to cuts early next year.
European markets were muted ahead of a key November jobs report from the U.S., with mining stocks dropping 0.6% while oil and gas climbed 0.5%.
Global attention is focused on the November nonfarm payrolls report, as investors try to gauge the likely trajectory of interest rate decisions from the Federal Reserve over the next year.
European shares slipped after recent gains, with data from Germany adding to worries that the industrial sector will continue to drag on the euro zone's largest economy.