LONDON Oct 9 Top European stocks climbed to a one-month high on Friday and were set for their best weekly gain since late January on renewed hopes that central banks would keep monetary policy loose for longer.
U.S. Federal Reserve meeting minutes showed the central bank thought the economy was close to warranting a rate hike but decided it was prudent to wait for evidence a global economic slowdown was not knocking the United States off course.
The FTSEurofirst 300 index was up 1 percent at 1,441.68 points by 0706 GMT after rising to a one-month high of 1,442.25, helped by a rally in commodity stocks.
The STOXX Europe 600 Basic Resources index surged 3.4 percent, the top sectoral gainer in Europe. Glencore rose nearly 6 percent after saying it would slash its annual output by a third. (Reporting by Atul Prakash; Editing by Lionel Laurent)
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Two years ago India was a "fragile five" economy growing at 5 percent, facing a severe current account deficit and the rupee at record lows as the U.S. Fed Reserve prepared to taper its stimulus programme. Today, two years into the term of RBI Governor Raghuram Rajan, India is set to confidently face the Fed's first rate rise since 2006. Full Article