[ad_1]
Europe’s stock market ended higher on Friday, led by a strong comeback in the tech sector despite a turbulent week. The STOXX 600 closed up 0.2%, with tech Stocks soaring 2% to trim the sector’s weekly losses to 6%. Basic resources shares also climbed 1.4%, buoyed by robust commodity prices. Luxury Stocks rebounded after earlier losses, with companies like Kering and Hermes seeing gains. The ECB’s rate cut and a flurry of corporate earnings contributed to the positive market performance, allowing the index to secure a second consecutive week of gains. However, concerns remain as Goldman Sachs slashed its earnings growth forecast for the STOXX 600. The index has struggled to make significant gains due to sluggish economic growth and global trade uncertainties. Despite this, the market remains vigilant for potential downside risks. Stocks like Elisa and Getinge faced declines after reporting lower-than-expected results. The ECB’s decision to cut Interest rates further and uncertainty regarding future cuts signal caution among investors in the European market.
[ad_2]
SOURCE
Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
