European stocks climb after a Wall Street rally and the first Federal Reserve interest rate cut

Following Wall Street’s record rally and a slide in Asian markets, European stocks opened higher Friday.

Major indexes saw early gains:

• CAC 40 (France): +0.38% to 7,884.10
• DAX (Germany): +0.04% to 23,682.84
• FTSE 100 (UK): +0.01% to 9,229.03

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The move comes after the Bank of England held rates steady and the Federal Reserve cut its key rate by 0.25% for the first time this year.

In Asia, Japan’s Nikkei 225 fell 0.57% after its central bank held rates, and inflation data slowed. Wall Street’s rally was powered by tech stocks, with the S&P 500 rising 0.48% and the Nasdaq climbing 0.94% to new records. Intel soared nearly 23% after a $5 billion deal with Nvidia.