The European STOXX 600 index rose 0.6 percent by 0815 GMT, heading for a second day of gains after a four-day losing streak as uncertainty increased over the conflict between Ukraine and Russia, which boosted demand for safe haven assets.
It also affected the potential economic repercussions of the tariffs proposed by US President-elect Donald Trump On European market sentiment.
However, the Stoxx 600 index is heading for weekly gains after losing more than four percent in the past four weeks.
The technology companies index recorded its highest level in a week, rising 1 percent, led by shares of chip manufacturers. The sector ended trading higher yesterday, Thursday, after recovering from losses incurred early in the session following revenue expectations from the US-based company Nvidia.
Games Workshop Group, a manufacturer of small war game figures, jumped 12 percent after the company announced its profits during trading hours. Printage shares rose 3.3 percent after German Berenberg Bank raised the chemical distribution company’s stock rating to “buy” from “hold.”
Thales shares fell four percent after the Serious Fraud Office in Britain investigated charges of corruption and bribery in the company in conjunction with the French authorities.
The preliminary Eurozone PMI for November, due to be released later today, will provide more clarity on the state of the European economy, which is already struggling and is likely to falter further under a new Donald Trump administration.
