European Markets Surge Amid Corporate Earnings and Trade Tensions
European shares climbed on Friday, driven by gains in companies like Vestas and Saab. Investors closely monitored corporate earnings for insights on the impact of U.S. tariffs. The pan-European STOXX 600 index rose amid expectations linked to U.S.-EU trade discussions, while oil and gas sectors led the gains following EU sanctions on Russia.
On Friday, European shares saw an uptick, buoyed by significant gains in companies such as Vestas and Saab. Investors kept a close watch on corporate earnings to gain insights into the implications of U.S. tariff policies on businesses across the region.
The pan-European STOXX 600 index advanced 0.5% to 549.48 points by 0931 GMT, marking its second consecutive weekly gain. Leading the charge, France's CAC 40 saw a rise of 0.6%. Concurrently, Wall Street indexes hit record highs on Thursday, bolstered by robust economic data and earnings, indicating resilient consumer spending in the U.S.
In Europe, favorable corporate developments mitigated trade-related worries after U.S. President Donald Trump proposed a potential 30% tariff on the EU. Investors await outcomes from U.S.-EU trade talks, with the EU poised for retaliatory measures if negotiations falter. Britain's newly signed friendship treaty with Germany symbolizes a bid to strengthen ties post-Brexit.
(With inputs from agencies.)
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