Markets rise on interest rate cut hopes

Stocks climbed on Monday as investors renewed bets on early interest rate cuts following figures showing that US shoppers may be starting to put the breaks on their spending.Ryanair Holdings climbed 3.75 per cent to €18.15 in bank holiday trading. European airlines were popular with investors following the weekend when the summer traditionally gets going in earnest.

JD Sports jumped 5.1 per cent to 133.95p, topping the FTSE 100, reversing Friday’s 4.7 per cent slump in the clothing chain’s shares. Avanza Bank climbed 1.35 per cent to 277.7 Swedish kroner after analysts at Barclays upgraded the Stockholm-listed online lender. The move helped boost European banks, which collectively gained 1.2 per cent.

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