European equity markets closed in positive territory on Friday, extending a multi-day rally driven by a recovery in technology shares and renewed risk appetite.
The advance followed recent US economic data that reinforced market expectations for continued monetary easing by the Federal Reserve, providing a tailwind for growth-sensitive sectors across the continent.
4%. The broad-based advance was supported by defensive sector strength earlier in the week, but Friday’s move was distinctly led by tech stocks as investors rotated back into higher-beta assets.
The pan-European Stoxx 600 index finished the session higher, building on a strong performance from Thursday when the benchmark gained 1.4%.
The broad-based advance was supported by defensive sector strength earlier in the week, but Friday’s move was distinctly led by tech stocks as investors rotated back into higher-beta assets.
Trading volumes remained subdued, reflecting reduced liquidity with US markets closed for the holiday.
The rally comes after a volatile week for European equities.