European stocks were flat on Friday morning, but the Stoxx Europe 600 was still headed for a weekly gain of ~0.2% as French political concerns eased. The automotive and consumer goods sectors led the way, while energy and mining lagged. ArcelorMittal briefly fell as much as 5.2% after Goldman Sachs cut its rating from buy to neutral due to its perceived "overstretched" valuation.
Sentiment improved after news that President Emmanuel Macron would appoint a new prime minister on Friday evening, helping to stem the decline in French stocks following the resignation of Sebastien Lecornu. The CAC 40 has recovered most of its losses this week. Although European equities are near record highs, optimism around the AI theme remains limited by lingering political risks in France. (az)
Source: Newsmaker.id
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