[ad_1] The pan-European Stoxx 600 closed 0.9 percent higher London time, with nearly all sectors and major bourses globally trading in positive territory. Construction and material and household goods stocks led gains, up 1.8 per cent and 1.7 per cent, respectively. Travel and leisure stocks were also 1.6 percent higher. Autos recouped losses from earlier…
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The pan-European Stoxx 600 closed 0.9 percent higher London time, with nearly all sectors and major bourses globally trading in positive territory.
Construction and material and household goods stocks led gains, up 1.8 per cent and 1.7 per cent, respectively. Travel and leisure stocks were also 1.6 percent higher. Autos recouped losses from earlier in the day after Germany’s Mercedes Benz said it was narrowing its annual profit margin forecast.
British bank NatWest rose 7.2 percent in afternoon trade after it reported that its pretax operating profit fell by less than expected in the first half of the year. The London-listed stock closed 7 percent higher.
European equities have closed lower for the last two sessions amid a sharp downturn in technology stocks stateside. Stoxx losses had eased from last week when the regional index recorded its worst performance since October.
The June U.S. personal consumption expenditures price index came in as expected, increasing 0.1 percent from the previous month and 2.5 percent annually from a year ago. The data comes ahead of a Federal Reserve meeting next week. U.S. stocks were higher on Friday, with the Dow Jones Industrial Average climbing 1.6 percent.
Asia-Pacific markets largely rebounded Friday, as Tokyo’s headline inflation slowed slightly to 2.2 percent in July from 2.3 percent in May.
Albania News Agency
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