Europe ends the week mostly in green
European stock exchanges closed trading this Friday mostly in positive territory. This comes at a time when investors are anticipating a slowdown in the pace of US interest rate hikes and are seeing an easing in China’s COVID-19 response.
The Stoxx 600, the European benchmark, rose 0.09% to 432.26, posting one of the best weekly results in recent months.
Of the 20 sectors that make up the index, financial and natural resources contributed the most to growth, gaining 2.73% and 2.58% respectively. Telecommunications (-1.06%) and utilities [água, luz e gás – a ceder 1,58%] were among those who retreated the most.
Elsewhere in Europe, the German Dax rose 0.56%, the French CAC-40 added 0.58% and the Italian FTSE Mib added 0.25%. Spain’s Ibex shed 0.43% and Britain’s FTSE 100 shed 0.78%.
At the moment, Europe continues to face an energy crisis, as well as the prospect of a possible recession, while inflation remains at extremely high levels. Warmer-than-expected temperatures this time of year in the region have softened the impact of reduced gas supplies to Russia, but it remains a major concern for European governments.
