European Markets Rebound After Global Sell-Off
The regional index Stoxx 600 rebounded compared to last week, when it experienced its worst performance since October. Investors reacted to inflation data in the US, causing global stock sell-offs to weaken.
European markets closed in the green on Friday, with the Stoxx 600 index rising by 0.9%. Nearly all sectors and major exchanges in the region saw gains, signaling a positive end to the week.
Stock Market Report
Shares of companies in the construction and household goods sectors saw the strongest gains, rising by 1.8% and 1.7% respectively. The tourism sector also experienced a 1.6% increase. The automotive sector managed to recover from earlier losses in the day following a decrease in the annual profit margin forecast for the German company Mercedes Benz.
Company Highlight
Shares of the British bank NatWest rose by 7.2% during afternoon trading after reporting that its pre-tax operating profit had declined less than expected in the first quarter.
European Stock Markets Close with Decreases
Over the past two sessions, European stock exchanges closed with declines against the backdrop of a sharp drop in the technology sector in the US.
Stoxx Losses Decrease Compared to Previous Week
Overall, losses on the Stoxx decreased compared to last week, when the regional index recorded its worst performance since October.
