|Day's range||15,499.84 - 15,641.30|
|52-week range||11,862.84 - 15,706.37|
European stock markets edged cautiously higher Friday, with investors digesting mixed Chinese activity ahead of the release of key inflation data on both sides of the Atlantic. By 03:40 ET, U.S. crude futures traded 0.5% lower at $74.01 a barrel, while the Brent contract dropped 0.7% to $78.09.
US shares rose on Thursday, taking Europe’s lead, as investors assessed the future path of monetary policy following weeks of turmoil for banks on both sides of the Atlantic. President Joe Biden also called on banking regulators on Thursday to toughen the supervision and regulation of large regional banks, as the White House announced reforms it would back following the failure of Silicon Valley Bank.
European stock markets traded higher Wednesday, with UBS leading the banking sector higher after the Swiss lender recruited a former boss to lead the Credit Suisse integration. Banking giant UBS (SIX:UBSG) stock rose over 2% Wednesday, helping the region’s banking sector post gains, after announcing former boss Sergio Ermotti as its next chief executive officer, tasking him with steering through its takeover of struggling peer Credit Suisse. Confidence is building that the turmoil surrounding the global banking sector may be coming to an end, with officials on both sides of the Atlantic keen to reassure the markets of the underlying strength of the industry.