Stock movements
cursor jumped”Stokes 600“European rose by 1.2 percent in the best session in nearly two months.
The index achieved weekly gains of 1.1 percent, ending a series of losses that lasted for four weeks and was the longest since May 2022.
Despite its rise of five percent since the beginning of this year, the STOXX 600 index lagged sharply behind its American counterpart.Standard & Poor’s 500“Which rose by about 25 percent during the same period.
Data showed that business activity in Eurozone It suddenly declined sharply this month with a contraction in the services sector and an increase in the contraction in the manufacturing sector.
The German economy grew less than estimated in the third quarter, and its performance is likely to be the worst among the G7 countries this year.
Interest rate-sensitive real estate stocks gave the European index the biggest boost.
Low interest rates lead to lower borrowing costs and increased home sales.
The bank stocks sub-index lost 1.3 percent, and its performance was the worst among sectors.
The technology index rose 1.3 percent, led by chip companies.
Other sectors such as media and healthcare also advanced by more than 2.7 percent each.
