(Reuters) – Tech shares led features in Europe on Friday, with the benchmark inventory index hitting a one-week excessive and on monitor for its first weekly advance in 5, because the latest promoting strain pushed by geopolitical tensions got here to a halt.
The pan-European was up 0.6% as of 0815 GMT, set for its second day of features following a four-day dropping streak as rising uncertainty across the Ukraine-Russia battle boosted demand for safe-haven property.
Seemingly financial implications of proposed tariffs by U.S. President-elect Donald Trump have additionally weighed on the European market sentiment.
The STOXX 600, nevertheless, eyed weekly features after dropping over 4% previously 4 weeks.
Tech hit a one-week excessive, up 1%, led by chip shares. The sector ended Thursday greater, reversing early losses after U.S.-based Nvidia (NASDAQ:)’s in a single day income forecast.
Miniature wargame maker Video games Workshop Group jumped 12% after a buying and selling replace. Brenntag rose 3.3% after Berenberg upgraded the chemical compounds distributor’s inventory to “purchase” from “maintain”.
Thales (EPA:) fell 4% on Britain’s Severe Fraud Workplace’s (SFO) investigation of suspected bribery and corruption on the firm collectively with French authorities.
The euro zone’s flash PMI for November, due later within the day, will present additional clues on the state of the European financial system which is already struggling and is probably going headed for extra ache underneath Trump.