European stocks head for second straight weekly loss

2020-07-31 15:27:43 GMT (Economies.com)
European stocks head for second straight weekly loss

European stocks rose on Friday, within recovery attempts from a 4-week low, lifted by upbeat earnings reports by major companies in Europe, but still on the cusp of the second straight weekly loss.

 

The Stoxx Europe 600 index rose 0.3% as of 10:35 GMT, after it lost 2.2% yesterday and hit a 4-week low of 356.52 points.

 

The Index opened higher, to rebound from a 4-week low, with most of the major European markets and sectors seeing green today.

 

The tech sector sector saw the largest gains in Europe today, rising more than 1.5%, thanks to Nokia's business results.

 

Nokia stocks jumped more than 10%, after the company revealed better second quarter earnings than analysts anticipated, and the company's CEO said that there are concrete mid-term opportunities due to geopolitical trends.

 

European stocks lost around 1.5% so far during this week, to head for the second straight weekly loss.

 

S&P 500 futures fell 0.25%, after the index closed lower by 0.4% yesterday due to weak economic data in the US.

 

Back to Europe, the Euro Stoxx 50 index added 0.4%, France's CAC 40 rose 0.2%, Germany's DAX added 0.5%, and the UK's FTSE 100 rose 0.1%. 

 
 
 
  Symbol Last Change Chg.%
1.1646
-0.0174
1.4695%
1.2953
-0.0074
0.5654%
Tadawul
7907.72
-127.45
1.59%
23.640
-0.674
2.774%
35.655
-3.246
8.344%
37.46
-0.19
0.50%
1877.990
-25.960
1.363%
 
 
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