Europe: Stocks flat as US-China woes weigh, but post weekly gain

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[BENGALURU] European shares closed unchanged on Friday although rising US-China tensions hit Asia-exposed banks and luxury stocks, while hopes of a global recovery kept weekly gains intact for the main indexes. Read more at The Business Times.

"The US has ratcheted up pressure on China on several fronts and has sapped risk appetite ahead of the weekend," said Marc Chandler, managing director at Bannockburn Global Forex.

Cyclical sectors such as miners, travel & leisure and automakers have outperformed this week, helping the Stoxx 600 post its best week since April 10 on hopes that easing of coronavirus-driven lockdowns will spur a swifter economic recovery.

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