European stocks close higher; investors focus on France election

European shares rose on Friday and erased weekly losses as investors focused on a fierce dispute between current French President Emmanuel Macron and far-right rival Marine Le Pen on the eve of the first round of the French presidential election. France over the weekend.

Financials and commodities led gains with all major sectors in positive territory. The pan-European STOXX 600 index rose 1.31% to 460.97 points and ended the week up about 0.5%, with health stocks the best performer for the week.

Despite a 12% rebound from one-year lows hit in March, the STOXX 600 is still down more than 6% this year on concerns that rising inflation stemming from the Ukraine war will trigger moves by central banks that could hinder growth.

France’s CAC-40 index rose 1.3% but lost about 2% this week – the biggest drop among European peers – due to election uncertainty.

• In London, the Financial Times index advanced 1.56%, to 7,669.56 points;
• In Frankfurt, the DAX index rose 1.46% to 14,283.67 points;
• In Paris, the CAC-40 index gained 1.34% to 6,548.22 points;
• In Milan, the Ftse/Mib index appreciated by 2.13%, at 24,819.15 points;
• In Madrid, the Ibex-35 index registered an increase of 1.64%, to 8,606.40 points;
• In Lisbon, the PSI20 index rose by 0.71%, to 6,106.11 points.