2023-06-16 16:52:30
Archive.. European shares
European stocks closed, Friday, at their highest levels in three weeks, driven by increases in shares of luxury goods companies and defensive stocks, at the end of a week dominated by decisions from major central banks.
Shares of China-focused luxury goods companies such as LVMH and Richemont rose nearly 3 percent each, boosting the performance of the general index.
stock movements
The pan-European Stoxx 600 rose 0.5 percent today.
For the whole week, the index rose 1.5 percent, marking its best weekly performance in more than two months.
The French “CAC” index, which includes shares of major luxury goods companies, rose 1.3 percent, leading the gainers in the region, while the German DAX index closed at its highest level ever.
Defensive stocks rose, as the health care index rose 0.9 percent and the utility index rose 1.3 percent, hitting a four-week high.
But shares of Travis Perkins, Britain’s largest supplier of building materials, fell 6.7 percent to the bottom of the Stoxx index, after the company warned that profits would be affected by challenges in the country’s housing market.
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