\n \n \n “. concat(self. i18n. t(‘search. voice. recognition_retry’), “\n
(For a Reuters blog on U. S. stock markets)USA, UK and Europe, click or type LIVE/ in a news window)
STOXX rose 0. 5% on Tuesday, up 2. 5% this week
* Solid knowledge of U. S. employment U. S. weighs on European stocks
* TAG Immobilien reaches a record point in its capital development plan (upgrades to close)
By Devik Jain and Susan Mathew
July 8 (Reuters) – European stocks closed higher on Friday, recovering from consulting lows after exceptional knowledge of U. S. employment fell on Friday. The U. S. Treasury strengthened the case for a sharp increase in interest rates through the Federal Reserve.
The six-hundred-hundred-cent stoxx continental index closed up 0. 5% and ended the week up 2. 5%.
Automakers were the industry’s biggest gainers and gave the biggest boost to Germany’s DAX, which closed up 1. 3% to lead gains among its regional peers.
The DAX marked its third consultation to the upside as it recovered from its lowest level since November 2020 this week.
The STOXX 600 had fallen to 0. 6% the day after the release of U. S. nonfarm payroll data. Much higher-than-expected U. S. prices for June, prompting investors to raise bets by a base point of 75 through the Federal Reserve this month.
“Better-than-expected employment knowledge has a higher chance of an exceptional rate increase this month, but Array. . . it turns out it will be more in corporate earnings,” said Joshua Mahony, senior market analyst at online trading platform IG.
According to Refinitiv, second-quarter earnings for the six hundred STOXX corporations are expected to increase 19. 2% year-over-year. Excluding the power sector, earnings are expected to rise as much as 2. 0%.
Stocks have remained volatile this year as investors question whether inventory market valuations have become exciting after a strong sell-off, fearing the central bank’s adjustment to inflation could cause a recession.
Minutes of the European Central Bank’s June assembly showed Thursday that politicians debated a further interest rate hike for July. The bank is expected to make its first increase in more than a decade this month.
“In fact, I don’t think stocks will recover anytime soon, especially given the way financial policy will temporarily tighten not only in the United States, but also in Europe,” said Michael Brown, head of market information at Caxton.
The euro has fallen towards parity with investors worried about an energy surprise in Europe due to its dependence on Russian gas.
Among the individual shares, TAG Immobilien fell 6. 1% after the German real estate company announced it would raise two hundred million euros ($201. 80 million) to refinance its latest acquisition in Poland.
Leonardo’s shares rose 4. 1% after the Italian defense organization in a consortium that added Telecom Italia exercised a right of preference that allowed it to participate in a competing bid in the tender to establish a national cloud infrastructure. Rashmi Aich, Sherry Jacob-Phillips and Jonathan Oatis)