Strong tech stocks boost European shares at close

European shares ended the week on a high with markets boosted by a rally in tech stocks. Investors, meanwhile, were analysing the euro zone inflation report to assess the likelihood of a larger interest rate cut in December.The Irish index of shares rose 1 per cent, finishing the week in positive territory as gains in financial, food and leisure shares helped buoy the market.

Airline Ryanair gained 2.3 per cent over the day, finishing the session at €18.62, while ferries company Irish Continental Group saw its share price lose 1 per cent.From surprise charges to new scams: The perils of Christmas online shoppingGlanbia and Kerry Group both gained ground on Friday. The latter added more than 2 per cent to its share price, while Glanbia’s gains were more muted at 0.14 per cent.

The aerospace and defence sector fell 0.9 per cent, as shares of BAE Systems and Qinetiq dropped 4.9 per cent and 3.5 per cent respectively after BofA Global Research downgraded the defence stocks. Spire Healthcare climbed 2.7 per cent following a media report that India’s Narayana Health is in advanced talks to acquire a controlling stake in the company.Europe’s STOXX 600 ended the week on a high note, bolstered by a rally in tech stocks. The pan-European main stock index reversed earlier losses and was up 0.6 per cent at 510.25 points on Friday, logging its first monthly gain since August. It rose 1 per cent in November. On a weekly basis it logged a modest 0.2 per cent decline.

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