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European stocks recovered Friday from their lows in six months, posting a positive performance at the end of a hectic week as the hope of a financial stimulus grew in Germany.
Hopes of fiscal stimulus in Germany boosted confidence and pushed distressed banking stocks to their best day in four and a half months.
Der Spiegel said in a report on Friday that the coalition government in Germany would be ready to abandon the balanced budget base and take on new debts to face a possible recession.
The DAX <.GDAXI> Germany was up 1.3% after suffering recent pressure because of fears of falling into recession due to rising trade tensions between the United States and China.
German bonds also recovered after the publication of the Der Spiegel report.
The banking sector index, which recorded a loss of about 8% this month under the pressure of falling bond yields, was the biggest gain on Friday with a 2.4% rise in his best session since early April.
While all other sectors are up, the European STOXX 600 rose 1.2%, consolidating its morning gains when hopes of Chinese plans to boost economic growth boosted risk appetite.
However, the benchmark posted losses for the third consecutive week, falling 0.5% during the week due to fears of a global recession.
The technology index advanced 1.7% as chip makers ramped up after major gains from NVIDIA and chip maker Applied Materials.
AMS, Infineon and STMicroelectronics grew 1.2% to 2.1%.
While all major European indices rose more than 1%, the FTSE 100 ended the session 0.7%, slightly behind the other indices after a technical failure caused power outages on the Exchange. from London, which paralyzed trade. For about two hours.
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