Europe's STOXX 600 ends week higher as tech stocks rebound
[hfe_template id='11223']
[ad_1]
Europe's STOXX 600 ended higher on Friday, as tech stocks made a strong comeback at the end of a bumpy week, while the European Central Bank's rate cut and a flurry of corporate earnings helped the index deliver a second straight week of gains. The STOXX 600 closed up 0.2% as the tech sector led gains with a 2% jump. That cut the weekly loss for the tech index to 6%, but it remained the worst-performing sector this week after ASML's weak 2025 sales forecast sparked a rout in chip stocks globally. The computer chip equipment maker's shares were up 1% on Friday, while chip stocks Soitec SA and BE Semiconductor Industries were up 5.6% and 2.8%, respectively. Basic resources shares climbed 1.4%, boosted by strong copper prices. The luxury stocks index rose 1.1% after a sell-off earlier this week following LVMH's weak third-quarter sales. With LVMH, other luxury giants such as Gucci-owner Kering and Hermes rose 3.5% and ...