European Stocks Rebound as Consumer, Retail Sectors Lead Gains

The Stoxx 600 Index was 0.4% higher as of 8:08 a.m. in London. Technology stocks rebounded from sharp losses on Thursday spurred by a slump in Apple Inc. amid concerns over Chinese curbs on the use of iPhones in government-backed agencies and state companies. All European sectors were in the green in early trading Friday, aside from energy stocks.

The main regional benchmark is poised to drop for the first week in three, as this year’s rally in European equities falters. Investors are tracking slowing growth and sticky inflation in the region, with central banks expected to hold rates higher for longer. The focus next week will turn to the European Central Bank’s meeting and US inflation data.

European equities experienced a 26th week of outflows at $66 million, according to a Band of America note citing EPFR Global data.Apple suppliers and the broader technology sector may extend declines after the iPhone maker fell for a second day on concerns over China curbs.

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