European stocks rose on Friday to extend gains from the previous session amid hopes that U.S. inflation may have peaked around 8 percent and would trend lower in the coming months.
Investors also cheered reports of potential fiscal plan U-turn. Media reports suggest that the British government will announce a U-turn on elements of its 43-billion-pound package of unfunded tax cuts that sparked turmoil in financial markets over the past few weeks.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.