Friday, 27 Jan 2023

European Shares Close Higher for 2nd Week in Row

Capitals, European stocks closed near nine-month highs Friday, supported by health care and banking stocks with the release of upbeat economic data in Britain.

STOXX Europe 600 Index rose 0.5%, outperforming its American counterparts, after the start of the season of corporate results announcements, with mixed results for banks, while the European index achieved gains for the second week in a row, up to 1.8%.

The European banking sector index rose 0.8%, and the British Financial Times 100 index increased 0.6% after data showed that the British economy grew by 0.1% in November.

Health care stocks provided the biggest support for the index, as Novo Nordisk and Roche Holdings rose 2.5% and 1%, respectively.

Source: Saudi Press Agency

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