Sana: European stocks rose on Friday as investor confidence improved, supported by signs of easing trade tensions between the United States and China, along with a series of positive corporate earnings reports. The STOXX 600 index gained 0.3% to close at 576.01 points, after hitting a record high in the previous session, buoyed by energy shares following new U.S. sanctions on major Russian suppliers amid escalating conflict in Ukraine.
According to Yemen News Agency, markets received an additional boost after the White House confirmed on Thursday that U.S. President Donald Trump will meet with his Chinese counterpart next week. The meeting comes amid heightened tensions between the world's two largest economies and ahead of the planned imposition of new 100% U.S. tariffs on Chinese imports.
Technology and financial services stocks in Europe both rose 0.8%, while the utilities index slipped 0.3%. In the UK, retail sales increased by 0.5% in September, marking the fourth consecutive monthly rise and surpassing expectations.
Shares of French pharmaceutical company Sanofi climbed 3.3% after reporting third-quarter earnings that beat analyst forecasts. Swedish defense manufacturer Saab AB surged nearly 6% after raising its sales outlook, citing higher military spending.
Meanwhile, shares of NatWest Bank in the UK advanced 4.4% after announcing a 30% increase in third-quarter profits, alongside raising its annual performance target.