European stocks rise as rebound continues, while mining stocks react to fall in commodity prices

European equities rose on Friday, as the rebound continues from a selloff caused by inflation fears, with mining stocks being the major drag on stock-market indexes in Europe after a slight fall in commodity prices.

European equities are rebounding from days of declines since the beginning of the week, largely driven by U.S. inflation fears, with the Stoxx 600 now just 1.5% below the record high hit on Monday, before the selloff. “Technology stocks remain under pressure, but investors are turning to value stocks, which helped the broader market to recover,” said Milan Cutkovic, an analyst at Axi. “The fact that Europe’s stock indices are not dominated by technology stocks turned out to be an advantage in the current market environment.”

The London-listed mining giants added drag to the FTSE 100, with nonenergy minerals the weakest sector in the CAC 40 as well. Shares in Rio Tinto RIO, -1.81%, Glencore GLEN, -0.49%, Anglo American AAL, -0.09%, BHP BHP, -1.44%, and Antofagasta ANTO, -2.20% fell.Shares in U.K. enterprise software group Sage SGE, +2.82% rose 3%, after it posted half-year results with earnings-per-share ahead of analyst expectations. The group also guided that its margins would trend upward beyond 2021.

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