European shares extend gains led by financials, but remain set for weekly fall

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Reuters UK

By Shristi Achar A (Reuters) -European shares rose on Friday, boosted by gains in financials, although the benchmark index remained on course for a weekly decline after investors tempered their rate-cut expectations. The pan-European STOXX 600 index was up 0.4% as of 0925 GMT, extending gains from the previous session. Banks rose 0.4%, propped up by an over 2% jump in KBC Group after Morgan Stanley raised the Belgian integrated bank-insurance group’s rating to “overweight” from “equal-weight”. Sweden’s Avanza jumped 3.3% and was among top performers on the STOXX 600, after the financial servic…

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