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Nov 3 Reuters Europe39;s benchmark STOXX 600 rose on Friday and was set for its best week since March, led by automobile stocks, as signs of an end to monetary policy tightening by major central banks boosted sentiment.

The panEuropean index climbed 0.2 by 0930 GMT, also supported by upbeat earnings, signs of slowing inflation and falling euro area sovereign bond yields on increased bets of rate cuts in 2024.

Decisions by the Federal Reserve, the Bank of England, the European Central Bank and others to hold rates have underpinned investor hopes that monetary tightening has peaked.

There39;s a cautious optimism that it39;s the end of rate hikes, but that narrative is premature because we need to see how the data is coming up, said Giles Coghlan, chief market analyst at GCFX Ltd.

It all depends on the inflation trajectory, Coghlan added.

Meanwhile, ECB board member Isabel Schnabel noted the central bank is on track to push inflation back down to 2 by 2025 but the last mile of disinflation may be the toughest, so the bank cannot yet close the door on further rate hikes.

Real estate and automobile were the top sector performers for the week, while energy was at the bottom of the list.

For the day, automobile stocks led sectoral…