European Stocks Rebound As Concerns Over U.S. Involvement In Middle East Ease
European stocks rebounded on Friday after three sessions of declines, as the U.S. pause in Middle East conflicts eased investor concerns.
The pan-European STOXX 600 was up 0.4 percent at 537.98 points by 0708 GMT. The benchmark index was on track for a second weekly decline.
The Israeli-Iranian air war entered its second week and European officials are trying to get Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks.
The news lifted the market mood and helped restore appetite for riskier assets that had been sold off during the week due to uncertainty about how long the conflict would last.
In the markets, travel and leisure stocks were the biggest gainers, up 1.1 percent, as oil prices eased.
In contrast, energy stocks were at the bottom of the index with a 0.7 percent drop, paring some of the week’s gains.
Among stocks, Berkeley London was the biggest percentage decliner, down 8%. The housebuilder named current finance chief Richard Stern (US:PBHP) as its new CEO, but reported annual pre-tax profit slightly above market expectations. (alg)
Source: Investing.com
