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European stocks trade higher on hopes of a Fed rate cut; Publicis down 8.5%

July 19, 2019


European stocks traded higher on Friday as market players increase their bets the U.S. Federal Reserve will cut interest rates this month.

The pan-European Stoxx 600 was up by 0.4% after the opening bell, auto stocks leading the charge with a 1% climb as all sectors except media traded in positive territory.

Investors digested comments from a top Fed official that suggested the central bank would implement a pre-emptive “insurance” rate cut aimed at averting a major slump in economic growth.

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