European Stocks Rise as Julius Baer Gains on End to Swiss Probe
European stocks rose as investors pared bets on rate hikes from the European Central Bank, while Julius Baer Group Ltd. rallied after Swiss regulatory action against the bank ended.
European stocks rose on Friday as the Stoxx Europe 600 index climbed 0.6% by 12.36 pm in London. The rally was driven by falling oil prices and investors reducing bets on European Central Bank (ECB) interest rate hikes. Julius Baer Group led the gains, with its shares jumping 9% after Swiss regulators concluded their enforcement procedure, ending a period of restructuring.
The bank had applied for permission to resume share buybacks. Oil and gas companies, however, lagged, pulling back from record highs as Brent crude oil fell below US$105 a barrel due to resumed flows through a key pipeline in Saudi Arabia. In individual stock moves, Lindt & Spruengli fell 8% after the Swiss chocolatier reduced its sales growth guidance for a second time in 2026.
Traders have also reduced expectations for an October rate hike from the ECB, with the market now pricing a 34% chance of an increase. European stocks are approaching all-time highs but require a strong catalyst to overcome persistent geopolitical risks.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- European stocks rise as Julius Baer gains on end to Swiss probe businesstimes.com.sg
