European shares rose to a one-week high on Friday, after strong corporate earnings and a rally in mining stocks boosted risk appetite at the end of a volatile month dominated by concerns over slowing global growth.
The pan-European STOXX 600 index closed up 0.74% at 450.39 points and reduced its monthly losses to 1.2%. Friday’s rally lost some luster after Wall Street opened lower, weighed down by results from Amazon and Apple.
Miners gained 2.5% on Friday as copper and iron ore prices surged after Beijing pledged economic support, fueling hopes of sustained demand.
The metals and mining index marked its first monthly decline in four months as lockdowns in China took a toll. The index is already down nearly 10% from the 14-year highs it reached last week.
Analysts expect earnings for STOXX 600 companies to grow 27.1% in the first quarter and 13.7% in the second quarter, according to Refinitiv IBES data, with the biggest boost coming from energy companies.
- In London, the Financial Times index advanced 0.47%, to 7,544.55 points;
- In Frankfurt, the DAX index rose 0.84% ​​to 14,097.88 points;
- In Paris, the CAC-40 index gained 0.39% to 6,533.77 points;
- In Milan, the Ftse/Mib index appreciated by 0.82%, at 24,252.16 points;
- In Madrid, the Ibex-35 index registered an increase of 0.85%, to 8,584.20 points;
- In Lisbon, the PSI20 index depreciated by 0.04%, to 5,930.01 points.
Source: CNN Brasil
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