Europe: Shares extend ECB-led rally
[LONDON] European shares climbed higher on Friday, extending a rally from the previous session, as investors speculated on further monetary support in future from the European Central Bank (ECB).
The pan-European FTSEurofirst 300 index rose 0.7 per cent, building on a 2.1 per cent gain in the previous session, while the euro zone's blue-chip Euro STOXX 50 index advanced by 0.9 per cent.
Shares in Norwegian insurer Gjensidige surged 11.2 per cent after the company reported third-quarter profits ahead of market expectations.
Home appliances maker Electrolux also gained 3.8 per cent after the company reported third quarter earnings that beat market expectations.
However, Ericsson fell 4.3 per cent after it posted third-quarter revenue and profits below market expectations.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%