European stocks end higher but log worst week in 6 months
European shares edged higher on Friday as Marks & Spencer lifted retailers, but the benchmark STOXX 600 still marked its worst week since February on signs of slowing economic growth and rising COVID-19 cases.
The pan-European STOXX 600 index was up 0.3%, with the retail sector gaining 1.2%.
British retailer Marks & Spencer jumped 14.1% to the top of the STOXX 600, as it hiked its profit outlook after a jump in demand for food and a surge in online clothes’ orders indicated that its latest turnaround plan was starting to deliver.
London’s FTSE 100 index rose 0.4%, while Germany’s DAX was up 0.3%. Frankfurt shares recovered from a fall earlier in the session after data showed a bigger-than-expected jump in producer prices in July.
The mining index ended flat, becoming the worst performing European sector for the week
Reference: Reuters
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