European stocks rise amid optimism regarding China (AFP)
Coinciding with Croatia’s victory over Brazil, and its removal from the World Cup with nostalgia, and with the European knot of the world’s football kings approaching, stocks rose. european On Friday, driven by the rise of industrial and financial stocks, once morest the background optimism regarding ChinaHowever, fears of a recession, before a series of central bank decisions, prompted the STOXX 600 index to incur a weekly loss, following a seven-week rally.
And the cursor closed Stokes 600 up 0.8 percent, snapping a five-day losing streak that was largely driven by fears of an imminent global recession due to sharp interest rate increases by central banks.
Data released on Thursday in Washington showing a rise in weekly jobless claims in the United States revived hopes that the US Federal Reserve would soften its hawkish stance on raising interest rates, as China loosens its strict anti-coronavirus restrictions.
Next week will be crucial as interest rate decisions are due from the Federal Reserve, Bank of England and European Central Bank.
Industrial stocks such as Siemens and Schneider Electric were among the biggest supporters of the European index on Friday, as did financial stocks with exposure to Chinese firms.
Banking stocks snapped a four-day losing streak and rose 0.9 percent.
(Archyde.com, The New Arab)