Europe markets close higher following volatile week; Anglo American up 5.4%
European stocks closed higher Friday afternoon, following a mixed morning session as investors assessed the latest euro zone inflation data.
The Stoxx 600 index closed up 0.58%, with almost all sectors and major bourses in the green.
The pan-European benchmark also closed the month 0.96% higher, according to LSEG data. The gain was a recovery from October, when the index recorded the worst monthly performance for a year.
Tech stocks led gains Friday, adding 1.8%, as telecoms fell 0.19%. Mining stocks also gained momentum, adding 1.47%, with Anglo American leading the pack, up 5.4%, while Antofagasta and Glencore both added more than 1%.
France’s CAC 40 index was little changed from the previous session amid ongoing political turmoil. It comes shortly after the country’s risk premium drew level with Greece’s for the first time.
Euro zone inflation rose from 2% in October to 2.3% in November, flash data from statistics agency Eurostat showed on Friday, above the European Central Bank’s 2% target.
Economists polled by Reuters had expected a 2.3% reading for headline inflation in November. It bolsters the case for a more cautious interest rate cut at the European Central Bank’s next meeting on Dec. 12.
Source: CNBC
