The trading floor of the New York Stock Exchange: the Nasdaq and S&P 500 were on track for their biggest monthly gain in nearly 20 months. Photograph: Timothy A. Clary/AFPEuropean shares rose on Friday and logged their first monthly gain in four as a host of strong earnings from corporate Europe overshadowed fears of a global recession, with some strong economic data also lending support.
Ryanair also made gains, rising 1.4 per cent to €12.76, but packaging group Smurfit Kappa was among the few fallers in the session, declining 1.7 per cent to €35.28.The blue-chip FTSE 100 gained 1.1 per cent as commodity stocks jumped, while the mid-cap FTSE 250 climbed 1.6 per cent, with both now at seven-week highs.
Oil majors BP and Shell climbed more than 2.5 per cent each, while miners added 2.7 per cent, tracking firm commodity prices.The pan-European STOXX 600 climbed 1.3 per cent on Friday to a near two-month high, and logged its best monthly performance since November 2020. In Frankfurt, the Dax rose 1.5 per cent, while in Paris, the Cac 40 advanced 1.7 per cent.