European stocks close higher, best week in a month, energy and auto sectors lead gains.

From Google: 2024-09-13 14:27:08

European stocks closed higher on Friday, marking their best week in a month. The Stoxx Europe 600 Index gained 0.6% to finish the week 3.1% higher, the highest since early September. The DAX in Germany rose 0.7%, while the FTSE 100 in the U.K. gained 0.8%. The CAC 40 in France also saw gains.

The gains in European stocks were led by energy and auto stocks. The oil sector saw a boost as crude prices rose, with TotalEnergies and Shell leading the gains. The auto sector also saw gains, with Volkswagen, Stellantis, and Renault all posting positive numbers. Investors are hopeful about a global economic recovery.

The Euro STOXX 50 index rose 0.7% on Friday, closing out the week 3.3% higher. The index has rebounded after a sharp drop earlier in the week, posting gains for the fourth consecutive week. Despite concerns about inflation and central bank policies, European stocks have shown resilience.

Overall, European markets are upbeat, with investors showing confidence in the economic recovery. The gains in energy and auto stocks have boosted market sentiment, while the positive performance of major indices like the Stoxx Europe 600 and Euro STOXX 50 indicate a bullish trend. Market analysts are optimistic about the future outlook for European stocks.



Read more at Google: European Stocks Gain as Index Notches Best Week in a Month | Stock Market News – Mint