Jun. 7 at 6:28 AM
European stock markets mostly higher Friday, w/the upward revision of Q1 Eurozone GDP this week w/regional markets rising for a 2nd straight week, buoyed by strong U.S. employment figures & diminishing investor concerns over trade friction that had previously perturbed confidence. Market sentiment drew additional support from signs of easing in U.S.-China trade relationship following the telephone conversation between President Trump & Chinese President Xi Jinping.
$CAC40 +0.19%, Frankfurt
$DAX -0.08%, Italian FTSE +0.55%, Spain’s Ibex +0.31%, up for an 8th week, London
$FTSE +0.30% & European STOXX 600 +0.32% at 553.64, a +0.6% gain for the week. The automotive sector, particularly exposed to the increase in metal duties, bore the brunt, dropping -1.8% over the week. The financial sector emerged as the standout performer, helped by
$UBS which rose +3.8% after Swiss officials proposed more rules that will require an additional
$26B in core capital reserves for the banking giant.