European stocks hit highest level since February 2022

LONDON (Reuters) – Europe’s benchmark STOXX 600 index rose to highest level early 2022 on Friday, after an upbeat read of the U.S. labour market encouraged investor risk appetite.

At 1450 GMT the index rose 0.8% to 472.75, its highest level since February 10 2022.

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.

(Reporting by Lucy Raitano; Editing by Amanda Cooper)