collected by :Tod Hinery
sentifi.com Market voices on:The pan-European index made a modest weekly gain following four straight weeks of declines.
Carrefour was the biggest Stoxx faller, down 5 per cent as concern over profit margins overshadowed stronger-than-expected sales growth at the world’s second-largest retailer.
[MILAN] European shares slipped on Friday but eked out slight gains for the week as the market sought a floor following a sell-off sparked by expectations of tightening monetary conditions.
An Exane BNP Paribas downgrade of multiple European broadcasters sent the media index down 1.5 per cent to lead sectoral fallers in Europe.
The French group said sales growth accelerated in the second quarter, beating expectations and reflecting an improving performance in its core French market and robust sales in the rest of Europe.
as declared in
Credit Suisse upgraded the mining sector to “overweight” in its latest global equity strategy update, seeing the sector as a more rewarding play on higher oil prices, interest rates and inflation.
Healthcare stocks were led lower by GlaxoSmithKline, which fell after a downgrade from Citigroup to “neutral” from “buy”.
Gains among mining firms such as Glencore, which rose 2.6 per cent, also helped support UK shares, with BHP Billiton in tow as Chinese rebar futures rallied.
Shares in peer Barratt Developments also gained 2.4 per cent, while Britain’s blue chip FTSE 100, which outperformed the broader European market, gained 0.1 per cent.