STOXX 600 up 0.3
Spain39;s 12month inflation rate at 3.1 in Dec
STOXX set for near 13 rise for the year

Dec 29 Reuters European shares advanced on Friday, with media and energy companies among the top gainers, setting the index up for strong yearly gains on hopes of a softer monetary policy from major central banks next year.

The panEuropean STOXX 600 added 0.3 by 0919 GMT and was on track for its seventh straight weekly gain as well as its best December performance since 2021.

Global markets have rallied since midDecember when the U.S. Federal Reserve hinted that it could consider interest rate cuts next year. However, the European Central Bank ECB has not given a similar outlook.

Nonetheless, the STOXX 600 is headed for a near 13 advance this year, with technology and retail among the bestperforming sectors.

The European benchmark has recovered over 12 from its Marchlows when global markets were rattled following the swift collapse of Swiss lender Credit Suisse and U.S. midsized lender Silicon Valley Bank.

Italian shares outpaced their regional peers this year, with an almost 30 yeartodate rise, while Swiss and British indexes were the laggards.

On Friday, media stocks rose 0.4, while personal and household goods added 0.5 in their first gain in five sessions.

Heavyweight energy stocks gained 0.4 tracking higher crude oil prices.

Spanish stocks advanced 0.3 after a preliminary reading showed the 12month inflation rate fell to 3.1 in December, from 3.2 in the…