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European Stock Market Update : At The End of a Difficult Week, European Shares are Stable.

The pan-European STOXX 600 index increased 0.4 percent by 0707 GMT as a result of broad-based advances, putting it on track to reverse nearly all of its weekly losses.

 Despite a little increase on Friday, European markets were poised to post significant weekly losses as a string of interest rate increases from major central banks fueled concerns about a rapid economic slowdown.

By 7:10 GMT, the pan-European STOXX 600 index had risen 0.1 percent, but it was still on track to post its biggest weekly loss since early March, of 4.7 percent. 


After rate rises in the United States and Britain were followed by a surprising decision in Switzerland to tamp down an inflation surge, growing concerns about a recession sent global stock markets into their largest weekly fall since the markets' pandemic meltdown in March 2020.

Later on in the day, the final measurement of May's inflation in the euro zone will be released.

The largest retailer in the UK, Tesco, had a 0.3% decline in single-stock trading after reporting early signs of changing consumer behaviour brought on by rising price pressures.

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