[ad_1]
European stocks advanced on Friday, aiming to end the week with a rebound, but are still on the verge of a strong weekly decline.
How do the indexes behave?
The pan-European Stoxx 600 index
SXXP, + 0.62%
yielded initial gains but remained up 0.6% at 361.91. FTSE 100 London Stock Index
UKX, + 0.71%
increased by 0.8% to 7,063.79, while the CAC 40 index
PX1, + 0.73%
in Paris up 0.7% to 7,064.05 and the German DAX
DAX, + 0.67%
increased by 0.7% to 11,618.40. All major indexes were on track for big weekly losses, with Stoxx forecasting a 3.8% decline.
FTSE MIB in Italy
I945, + 0.58%
rose by 0.7%, but was set at a weekly drop of 4.2% amid the rout of global equities and worries about a likely fiscal conflict between the country's government and the European Union.
What motivates the market?
The rebound comes at a time of pause in the strong sell-off in the US majority, as many investors were linked to higher government bond yields, which led to a massive sell-off in the US. the whole world. Europe's rebound follows the rebound in Asian equities, which also suffered a sharp weekly contraction. US stock index futures showed significant gains for Wall Street.
What do the analysts say?
"Today's rebound seems to offer a brief respite to investors after a week of shock, and while today's respite is welcome, it remains to be seen whether we have seen the floor in the near term." said Michael Hewson, Chief Markets Analyst at CMC Markets, in a note. The start of the US earnings season "may well provide some clues with a focus on the company's projected profit and revenue projections."
What stocks are moving?
Some of the hardest hit sectors of the week recorded strong gains on Friday. Luxury stocks, which suffered from concerns about China's growth prospects and emerging markets, have grown.
Shares of Gucci's parent company, Kering
KER, + 3.57%
3.6% in Paris, while LVMH Moët Hennessy Louis
MC, + 0.97%
increased by 1%. In London, shares of Burberry Group PLC
BRBY, + 2.30%
increased by 1.7%.
Oil companies and miners were also winners, with Total SA
FP + 1.28%
up 1.4%, BP
BP., + 1.05%
up 0.9%, and Rio Tinto PLC
RIO + 2.55%
and Glencore PLC
GLEN, + 2.38%
each up 2.3%.
Do you want to receive news from Europe in your inbox? Subscribe to MarketWatch's free Europe Daily newsletter. Register here.
Source link
