European stocks continue to rise, hoping for an easing of inflationary pressures (Getty)
European stocks closed Friday at their highest level in seven months, buoyed by oil and mining stocks, while data pointing to moderate-rate job growth in the US led to Anxiety relief Which path will the Federal Reserve take? raise interest rates.
The pan-European Stoxx 600 index finished up 1.2%, at its highest level since May, and posted a weekly gain of 4.6%, its best weekly performance in more than nine months.
Stocks in the basic resources sector jumped 2.5% to lead industry indices, shares of mining companies exposed to China soared on rising copper prices and shares of energy companies rose by 1.8%, driven by rising oil prices.
Is absent influencing factors During early trading hours, before shares gained momentum after data from the US showed nonfarm payrolls increased by 223,000 jobs in December, fewer than the previous month’s data, while average wages were increased by 0.3%, less than previously reported. and also below the previous month’s rate of increase.
Economic data from Europe boosted sentiment as retail sales rose in Germany in November, adding to other positive data released this week that suggested the recession would be less than expected and price pressures in some countries they are loosening up.
European stock markets closed last year down more than 12% after inflation reached levels not seen in decades and central banks were forced to raise interest rates.
Fears of an economic recession in the country dominated most of the markets last year, but the first days of the new year showed investor optimism, strengthened by the just released data, which showed a drop in inflation, and The economy hasn’t slowed down as much as expected.
(Reuters, The New Arab)
