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European stocks jump as energy, retail rise
Reuters
European stocks jumped on Friday, led by gains in energy and retail sectors after the US Federal Reserve said there would be no imminent move to tighten monetary policy, easing fears of rising US inflation that pushed the STOXX 600 into negative territory for the week.
The pan-European STOXX 600 rose 1.1 percent, with oil and gas, and retail stocks leading the gains.
The benchmark still fell 0.5 percent for the week as a rally in commodity prices and signs of quickening US inflation raised fears about an earlier-than-expected interest rate hike by the Fed.
However, sentiment improved on the Fed’s reassurances on monetary policy, as it also said it would not immediately reduce cash injections that have propped up financial markets.
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(Reuters) -European stocks jumped on Friday, led by gains in energy and retail sectors after the Federal Reserve said there would be no imminent move to tighten monetary policy, easing fears of rising U.S. inflation that pushed the STOXX 600 index into negative territory for the week.
The pan-European STOXX 600 index rose 1.1%, with oil & gas and retail stocks leading the gains.
The benchmark still fell 0.5% for the week as a rally in commodity prices and signs of quickening U.S. inflation raised fears about an earlier-than-expected interest rate hike by the U.S. Federal Reserve.
However, sentiment improved on the U.S. Federal Reserve s reassurances on monetary policy, as it also said it would not immediately reduce cash injections that have propped up financial markets.