European stocks closed slightly higher on Friday (September 19th) as strength in the heavyweight financial sector offset mixed movements elsewhere, while markets continued to assess key monetary policy decisions for the week.
The Eurozone STOXX 50 rose 0.2% to 5,467, and the pan-European STOXX 600 was flat at 555. The Bank of Japan kept interest rates unchanged as expected but surprised markets by announcing plans to begin unwinding its massive holdings of exchange-traded funds (ETFs). Traders also monitored a phone call between U.S. and Chinese Presidents Trump and Xi, with both leaders signaling progress on various issues ahead of their face-to-face meeting next month.
Santander, BNP Paribas, and Nordea rose nearly 2%, leading the banking sector. Meanwhile, Airbus and Safran rose 1.4% and 2.3%, respectively. In turn, plunging freight rates pushed Moeller Maersk shares down 6%. The STOXX 50 rose 1.4% this week, while the STOXX 600 was flat. (alg)
Source: Trading Economics
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