«ستوكس 600» الأوروبي يسجل أكبر مكسب يومي في 5 أسابيع بقيادة البنوك

Stoxx 600 Rallies, Led by Banks, For Biggest Daily Gain in 5 Weeks

The European Stoxx 600 index experienced its most significant daily surge in five weeks on Friday, driven by a rebound in the banking sector. This uplift follows recent market declines as investors grapple with economic data, corporate earnings, and the upcoming US elections.

The index closed 1.1% higher after shedding nearly 3% over the past three days, though it still registers a weekly decline. The banking sector emerged as the top performer for the week, while the food and beverage sector suffered the most losses.

On Friday, the financial services, banking, and technology sectors were at the forefront of investor buying. All major regional exchanges, including Germany, France, Spain, and Italy, closed up by around 1%.

Despite the gains, some caution remains ahead of next week's tightly contested US presidential election. This uncertainty played a role in the Stoxx 600 index experiencing its largest monthly decline in a year on Thursday.

Markets anticipate a potential return of Republican Donald Trump to the presidency. However, the possibility of increased tariffs and expanded defense budgets could deal a heavy blow to the already struggling European economy.

Investors are also concerned about the uncertainty surrounding the European Central Bank's interest rate cut path, particularly in light of recent economic data. These concerns are heightened in anticipation of the US Federal Reserve's decision on interest rates next week.