European Stocks Rebound at End of Volatile Week


May 14 Reuters European shares rose on Friday, as investors picked up beaten down stocks after rising inflation worries led to sharp losses earlier this week.

The panEuropean STOXX 600 index rose 0.6 by 0718 GMT, with travel and leisure and retail stocks leading the gains. The benchmark was still on course for a 1 weekly drop, its worst since late February.

Global markets were rattled this week after a rally in commodity prices as well as quickening U.S. inflation raised fears about interest rate hikes.

Italys Banco BPM rose 2.2 After Deutsche Bank upgraded the stock to buy, saying the lenders speculative appeal could increase in the next few months.

French food group Danone slipped 1.8 after Goldman Sachs downgraded the stock to sell, saying weaker demographic trends, particularly in China, will weigh on its specialised nutrition business.

Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi Aich

Source Reuters


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