European Stocks Rebound to Limit Weekly Losses

European stocks surged on Friday, strongly rebounding from recent losses that resulted from a sell-off wave, as fears about the rise in the U.S. inflation rate eased.

The STOXX Europe 600 index gained 1.2% to finish at 442.55 points, but remained down for the week by about 0.5%.

The auto sector led the gains by adding 1.9%, while the basic sources sector was the sole decline losing 1%.

In France, the benchmark CAC40 index jumped by 1.54%, while the German DAX finished higher by 1.43%.

Meanwhile, the UK’s FTSE100 closed higher by about 1.15%.