European Stocks Record Best Week Since May on Hope of War Truce
European stocks edged higher on Friday, recording their best week since early May, on hopes for a potential ceasefire in Ukraine and optimism that company earnings are weathering US tariffs.
The Stoxx Europe 600 Index closed up 0.2%, stretching its advance for the week to 2.1%. The benchmark briefly extended intraday gains to as much as 0.4% after Bloomberg News reported that Washington and Moscow were aiming to reach a deal to halt the war in Ukraine that would lock in Russia’s occupation of territory seized during its military invasion.
Basic resources and bank stocks were the biggest gainers on Friday. Insurance shares were the worst laggards, with Munich Re down 7.2% after reducing its insurance revenue guidance. Defense stocks also slipped.
After posting its biggest weekly decline in nearly four months, the European stock benchmark has bounced back this week as investors look toward a meeting of presidents Donald Trump and Vladimir Putin. No date has been set yet, though the first summit meeting between the two leaders since 2018 hints at progress toward a pause in the war.
Source : Bloomberg
