European Stocks Recover and Finish the Week in Gains

European stocks closed higher on Friday, supported by positive economic data that took the attention away from inflation fears.

Economic indicators showed an improvement in France’s business activity and the German services sector, with readings exceeding expectations in May.

The STOXX Europe 600 index finished higher by 0.61%, with the auto sector leading the gains and adding 1%.

Accordingly, the pan-European index managed to finish the week with small gains, following a series of fluctuations.

The French CAC40 index rose by 0.68%, while the German DAX gained 0.44%. On the other hand, the UK’s FTSE100 finished marginally lower by 0.02%.