European stocks recover as tech shares lift world equities

European Markets

The stock market in the European continent finished higher on Thursday, bouncing back from sharp losses in the previous session, as technology sector came to the rescue and lift equity markets around the world in the positive zone.

Asia, US, and Europe advanced in unison as technology shares posted major gains after series of declines, with 2% rise recorded in the European continent.

The pan-European STOXX 600 index banked on the .SX8P 0.2% gain to climb 0.3% at 386.42 while bank shares also extending some help after rallying 0.8%.

France’s CAC 40 index tacked on 0.2% to finish at 5 383.86 while Frankfurt’s DAX 30 edged 0.4% up and last traded at 13 945.15.

The United Kingdom’s FTSE 100 futures bucked the trend as it suffered 0.4% to close at 7 320.75 amid strong rebound made by the British pound, appreciating 0.14% versus the US dollar while the euro was little changed at 1.1795 per greenback.

Investors also focused on the recent economic data released yesterday as the Eurostat revealed that overall economy in the continent started its steps to recovery, with the gross domestic product in the region expanding at 0.6%, in line with the consensus expectations of analysts.

The leaders of the continental bloc, European Union, will meet next week in Brussels and will discuss about the progress of the Brexit talks, which could shape up the direction of the stock market.


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