European Stocks Rally, Heading for Strongest Week Since March; Maersk Plummets 17%
European stocks are slightly higher, heading for their best week since March, driven by solid earnings and a perceived dovish tilt by central banks. U.S. stocks also had their best day since June, and government bond yields retreated after the Federal Reserve held rates, fueling expectations of future rate cuts. The Bank of England also held rates steady. In other news, U.S. job growth in October was slower than expected, and China's service sector expanded at a slightly faster pace. Goldman Sachs remains positive on select European stocks, and there is debate on whether to invest in bonds or stocks. Thursday's stock market rally was extensive and broad, with advancing stocks outnumbering declining issues by a large margin.