European stocks climbed modestly to finish the week after Wall Street snapped a three-day losing streak on Thursday, having been rocked by inflation concerns in recent sessions.
TICKER COMPANY NAME PRICE CHANGE %CHANGE VOLUME
.FTSE FTSE 100 FTSE 6998.70 35.37 0.51 61929921
.GDAXI DAX DAX 15233.91 34.23 0.23 6567689
.FCHI CAC 40 Index CAC 6308.13 19.80 0.32 5845667
The pan-European Stoxx 600 added 0.4% in early trade, with retail stocks adding 1% to lead gains, while basic resources dropped 1.7%.
Markets in Europe received a strong handover from Asia-Pacific, where Japan’s Nikkei 225 led gains across the region on Friday following the overnight bounce stateside. All three major indexes broke out of three straight days of selling on the back of strong labor market data, with weekly initial jobless claims falling to a 14-month low.
U.S. stocks are still on course for a negative week, but futures contracts are pointing to another positive open on Friday as investors look set to continue buying the dip.
The market’s volatility this week was exacerbated by a 4.2% jump in the U.S. Consumer Price Index for April, its fastest annual growth rate since 2008, which sparked fears that the Federal Reserve could be forced to tighten its accommodative monetary policy.
