Both the STOXX 50 and STOXX 600 rose 0.2% on Friday, putting them on track to close the week with strong gains of 3.3%, their best performance since April, and 1.9%, respectively.
The weekly rally was driven by upbeat corporate earnings reports and renewed optimism over potential progress in resolving the Ukraine-Russia conflict. Investors also assessed changing global trade dynamics after President Trump's massive retaliatory tariffs took effect on Thursday.
Furthermore, expectations of a Federal Reserve interest rate cut have recently strengthened. Among large-cap stocks, Novo Nordisk extended its rally with a 3.5% gain, Novartis rose 1.8%, and Siemens rose 1%, while SAP fell 1%. On the earnings front, Munich Re fell more than 7.5% after cutting its insurance revenue forecast. (alg)
Source: Trading Economics
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