European shares rose on Friday to their first weekly rise in five weeks after a bargain hunt took over the trading floor after concerns over an aggressive monetary policy tightening and a slowdown in global growth.
The pan-European STOXX 600 index closed up 2.14% at 433.48 points. The travel and leisure, banking and personal and household equities sectors led the gains.
“Stock markets are showing strong gains as bargain hunters buy equities,” said David Madden, market analyst at Equiti Capital.
Global markets, particularly US equities, have swung wildly this week on investor fears that tightening financial conditions – as the US central bank braces for a series of interest rate hikes to stem a rise on inflation – will drive the economy into recession.
Federal Reserve Chair Jerome Powell on Thursday repeated his expectation that the central bank will raise borrowing costs by 0.5 percentage point at each of the next two policy meetings, easing concerns about an adjustment. higher, 0.75 point, that some investors had expected.
Including Friday’s gains, the STOXX 600 broke a four-week streak of losses.
In LONDON, the Financial Times index advanced 2.55% to 7,418.15 points.
In FRANKFURT, the DAX index rose 2.10% to 14,027.93 points.
In PARIS, the CAC-40 index gained 2.52%, at 6,362.68 points.
In MILAN, the Ftse/Mib index appreciated by 2.05%, at 24,048.29 points.
In MADRID, the Ibex-35 index registered an increase of 1.68%, to 8,338.10 points.
In LISBON, the PSI20 index rose by 0.88% to 5,705.12 points.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
