According to Jinshi, European stocks are less than 1% away from their all-time highs after rising for the fourth consecutive week. British stocks led the way after a strong retail sales report. The European Stoxx 600 index closed up 0.6% in London, with mining and media stocks outperforming the broader market, while defensive sectors such as telecommunications and utilities lagged behind. The benchmark index quickly narrowed its gains after the release of a stronger-than-expected U.S. producer price report, but later recovered. Liberum strategist Joachim Klement said Europe's earnings season is okay, but Europe's growth expectations for 2024 are already lower than those of the United States. Klement expects the Stoxx 600 index to rise above 500 points, which means setting a new record high, as investors continue to assess when central banks will start cutting interest rates.