European stocks closed higher, yesterday, Friday, but recorded weekly losses, amid investors’ anticipation for the season of corporate results and the decisions that central banks will take in the coming period, but the reopening of the Chinese economy after a period of closure due to “Covid-19” mitigated the losses.
rise The European Stoxx 600 index 0.4% at the close, supported by the rise in the shares of the travel and entertainment sector and the retail sector.
The Spanish company Cellex jumped 9.8% after media reports that American Tower and Brookfield were considering submitting a bid to acquire the mobile phone tower operator, according to Reuters.
Despite today’s gains, the STOXX 600 index incurred a weekly loss of 0.1% after hitting a 9-month high earlier this week.
Shares of LVMH and Hermes International rose by 0.8% each.
The US central bank is expected to raise interest rates by 25 basis points at the policy committee meeting in February.
Expectations also indicate that the European Central Bank will raise interest rates by 50 basis points.
China said the worst was over in its battle against “Covid-19”, ahead of what was expected to be one of the busiest travel days in years on Friday, while fueling fears of a further increase in infections.
