European Stocks Stall After 6-Day Winning Streak
Both the STOXX 50 and the STOXX 600 swung around the flatline on Friday, pausing after a 6-day winning streak, with traders awaiting the key jobs report for the US and continuing to monitor the political situation in France.
President Macron vowed to appoint a new Prime Minister in the coming days and form a new “government of general interest”. On the corporate front, French stocks were actually among the top performers, namely Kering (2.8%), Carrefour (1.5%), Societe Generale (1.1%) and LVMH (0.9%).
Philips on the other hand, was the worst performer, losing about 0.9%. On the week, the STOXX 50 added 3.2% and the STOXX 600 rose 1.9%, the best weekly performance in ten.
Source: Trading Economics