Europe: Stocks clock best weekly showing in 2 months, French shares shine

[BENGALURU] European stocks posted their best weekly performance since early April on Friday, aided by strong gains in Paris, against a backdrop of hope among investors that central banks would support global growth with more accommodative policies.

The pan-European STOXX 600 gained 0.9 per cent, with Paris-traded stocks posting a 1.6 per cent gain. Frankfurt-listed shares rose 0.8 per cent, while their peers in London firmed 1 per cent. Technology shares, broadly sensitive to trade war ructions, starred with a 2 per cent gain. Chinese President Xi Jinping on Friday called US President Donald Trump his friend and said he believed the United States was not interested in rupturing economic ties with China.

While higher Brent crude futures fuelled energy shares' 1.2 per cent rise, Polskie Gornictwo Naftowe i Gazownictwo SA led the sector with a 3.5 per cent gain. A unit of the Polish firm bought a stake in the Norwegian King Lear deposit from Total E&P Norge.

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