- The FTSE 100 closed 0.4 percent higher at 7,047.11 points.
- The DAX index in Frankfurt climbed 0.3 percent, reaching 12,947.75 points.
- The value of the pound remained relatively unchanged in comparison to the dollar and the euro.
European stocks opened higher, following another week of hefty losses for markets, especially oil, on heightened worries of a global recession.
The benchmark FTSE 100 index in London rose 0.4 percent to 7,047.11 points, as investors ignored devastating by-election losses for Britain’s ruling Conservatives.
Read More: U.S. futures rise alongside European stocks; Dollar falls
The value of the pound remained relatively unchanged in comparison to the dollar and the euro, and this was the case despite data indicating a decrease in the volume of retail sales in the UK due to rising inflation.
The DAX index in Frankfurt climbed 0.3 percent, reaching 12,947.75 points, while the CAC 40 index in Paris gained 0.7 percent, reaching 5,922.45. Both of these indexes are located in the eurozone.
Read More: European stocks open downward after Fed issues a recession warning
Previously on European Stocks
As markets processed statements from the Federal Reserve that a recession is “certainly a possibility” and awaited statistics on the condition of the European economy, European stocks declined on Thursday morning.
In morning trade, the regional Stoxx 600 index fell 0.6%, while the FTSE 100 index fell 0.9% and Germany’s Dax index fell 0.4%.
The Hang Seng index in Hong Kong rose 1.6% after Chinese state media news of prolonged tax exemptions for owners of electric vehicles boosted the sector’s equities. The Topix index was unchanged.
Read More News On
Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News
Download The BOL News App to get the Daily News Update & Follow us on Google News.