Technology and mining drive European stock markets

Technology and mining drive European stock markets

European stocks were higher on Friday, with Wall Street’s overnight rally boosting European peers, despite sentiment weighing on concerns about the path of interest rate hikes and rising costs. of energy.

The pan-European STOXX 600 index was up 0.4%, although headed for a weekly drop of 0.5%.

German consumer confidence is set to hit an all-time low for the third consecutive month in September as households brace for rising electricity bills, according to a survey published on Friday, while French consumer confidence rose unexpectedly. in August.

Miners rose as copper prices rose on hopes new stimulus measures from China would boost demand.

Tech stocks rose 1% after Nvidia and Amazon propelled the sector higher ahead of Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole conference (1400 GMT).

Among other stocks, Danish brewer Carlsberg fell 0.8%, after saying its subsidiary in Poland may cut or stop beer production due to lack of carbon dioxide supplies.

The airline SAS fell after reporting that its losses in May-July were greater than those of the previous year.

Samuel Edwards
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that's what he is good at. From Major Investments to Stock Market Updates, he got 'em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.