The EU markets have seen several setbacks over the past few days, but it seems that most investors shrug off the news and speculation, keeping their investments live. The move by many has paid off as markets close much higher than expected on Friday.
The pan-European STOXX 600 closed provisionally up almost 0.2%, with sectors and major players largely in the positive. Equities initially turned negative after the release of weak manufacturing PMI numbers out of France and Germany. German manufacturing data came in below expectations, while France’s data also showed a decline in output. Corporate earnings, however, were the main focus of the attention of many investors who saw and seized the opportunity.
Elsewhere in the world, The GBP fell slightly despite an increase of production in the UK and Us markets struggled to break even for the week's close.