European markets close higher with Yellen stimulus comments, earnings in focus
European markets closed higher Friday as investors reacted to a fresh batch of corporate earnings and economic data, as well as comments from U.S. Treasury Secretary Janet Yellen calling for fiscal stimulus.
The pan-European Stoxx 600 ended the session up 0.5%, with basic resources shares surging 2.8% to lead the gains as most sectors and major bourses closed in positive territory.
Yellen told CNBC on Thursday that a large stimulus package is still necessary to get the economy firing on all cylinders again. U.S. stocks got a boost from her comments, with all the major indexes climbing.
Investors have been rattled this week by rising U.S. Treasury yields, and concerns about higher inflation caused a recent rally in global markets to seemingly fizzle out.
Reference: CNBC
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