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Indonesia News Portal for Traders | Financial & Business Updates

18 October 2024 22:58  |

European markets close higher, marking second straight week of gains; Gucci-owner Kering up 3%

European markets closed higher Friday, led by an uptick in tech and luxury stocks.

The pan-European Stoxx 600 ended the session up 0.19%, with most regional bourses and the majority of sectors in the green. The index also recorded its second consecutive week of gains.

Tech stocks led gains, rising 1.98%, while mining stocks added 1.56%. Luxury stocks also climbed on Friday, with Gucci-owner Kering rising 3.35%, having climbed over 5% earlier in the session.

The Stoxx 600 index had ended Thursday’s trading day in the green after the ECB announced its third interest rate cut of the year. The central bank on Thursday lowered the deposit rate by another 25 basis points, as inflation risks in the European Union ease faster than anticipated.

Source: CNBC

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