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European markets post weekly gains on global optimism
European markets ended the week on a down note, despite a largely positive week for global stocks. But they posted weekly gains, supported by global market optimism.
The Stoxx 600 lost 0.06% to 530.01 points, after a decline in the German and UK markets.
The French CAC 40 rose 0.44% to 7,927.62 points.
The German DAX fell 0.12% to 21,385.62 points.
The FTSE 100 in the UK fell 0.73% to 8,502.35 points.
However, the regional index posted weekly gains, supported by strong earnings and optimism about US growth after President Donald Trump was sworn into the White House.
Among the decliners was telecoms equipment maker Ericsson, which fell more than 11% after the company missed estimates on both profit and loss for the fourth quarter of 2024. Among the biggest gainers on Friday was Burberry, which jumped 10% on a smaller-than-expected decline in sales in the third quarter of its fiscal year. Other luxury stocks including Moncler, Swatch and Christian Dior also traded higher.
