The rebound came as the bond sell-off eased
European Stocks Rebound on Friday
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European stocks traded higher on Friday, with both the STOXX 50 and STOXX 600 gaining 0.3%, following losses in the previous two sessions.
The rebound came as the bond sell-off eased, offering some relief to investors, although French government bonds remained under pressure amid concerns over the country’s fiscal and political outlook.
Investors are awaiting Eurozone inflation data later this morning, with headline inflation expected to accelerate to 3.6%.
Tech shares booked strong gains and industrials were also higher while the pharmaceutical and banking sectors were among the weakest performers.
ASML Holding (1.4%), Schneider Electric (1.5%), Airbus (1.4%), ABB (1.5%) and Infineon (2.5%) were in the green while UniCredit (-2%), Sanofi (-4.4%) and Commerzbank (-2.2%) traded lower.
Despite Friday’s gains, the STOXX 50 is down 2% for the week, while the STOXX 600 has fallen 1.9%, putting both indexes on track for their worst weekly performance since April.
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