In a quarter that saw a dramatic rise in interest rates and a sharp decrease in risk appetite, which made statistics pointing to an increase in inflation on the continent even more concerning to investors, European markets closed higher on Friday, despite suffering significant losses.
The pan-European Stoxx 600 index increased by 1.3% at the close but gave up some of its gains throughout the session when statistics revealed that inflation in the euro zone exceeded expectations and reached a record-breaking 10% in September.
The Stoxx 600 index experienced a 4. 8% decline from July to September, marking the third straight quarter of losses and possibly the worst run of such losses since 2011.
As well as a 5.7% increase in Puma shares and a 4.1% increase in Adidas shares after American rival Nike warned of pressure on profit margins.
The London FTSE 100 momentarily fell before ending 0.2% ahead.
With profit-taking for shares that fell in the retail, oil and gas, and financial sectors, all of the sectors on the Stoxx 600 index closed the trading day higher.
Despite their indices rising today, Friday, European shares are still falling.
About Author
