By Shashwat Chauhan
(Reuters) -European shares advanced in broad-based gains on Friday as easing government bond yields and positive economic data from China boosted sentiment, keeping the on track for its fourth straight weekly rise.
The pan-European STOXX 600 was up 0.7% as of 0930 GMT, on track for a more than 2% jump for the week and less than 1% away from record highs.
Most STOXX sub-sectors were trading higher, with automobiles up 1.8%, while construction and materials added 1.6%.
Yields across European government bonds eased, with the yield on the 10-year bund last at 2.5%, down for the third straight day.
Risk sentiment got a boost after China’s economy matched the government’s ambitions for 5% growth last year, but in a lopsided fashion.
UK’s outperformed its continental peers, gaining 1% to hit an all-time high.
British retail sales fell unexpectedly in December, adding to a run of downbeat economic indicators that are likely to further boost expectations for a Bank of England interest rate cut next month.
European equities advanced this week as global markets reacted to easing U.S. core inflation which kept potential rate cuts by the Federal Reserve on the…
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