Let us check the stocks. On Friday, European stocks were rebounding. It was thanks to upbeat results from Daimler and LVMH Moet Hennessy Louis Vuitton. Meanwhile, investors awaited retail sales data. Thus, United States equity futures inched higher.
The Stoxx Europe 600 index increased by 0.8% to 365.78. It happened after losing 2% on Thursday.
It was the most significant one-day drop since Sept. 21.
The index is headed for a weekly loss of just over one percent. The German DAX increased by 0.6%. The French CAC 40 rose 1.4%, and the FTSE 100 climbed one percent.
United States stock futures NQOO, ESOO, and YMOO were modestly higher. It was a weak finish on Thursday. Lack of progress over a coronavirus relief package and downbeat jobs data drove that soft finish. A consumer sentiment, retail sales, and Industrial production sentiment survey are ahead in the United States on Friday.
Investors remain concerned about rising coronavirus cases both in Europe and in the United States. Thus, it has a massive effect on economies. This week, several European countries were forced to tighten restrictions. Moves included bans of different households gathering in London and curfew in Paris.
Also, Politics remains a theme in London. Prime Minister Boris Johnson was due to make a statement on Friday. The statement would have been about whether the United Kingdom will continue Brexit talks with the European Union after an inconclusive summit this week.
Ursula von der Leyen is European Commission President. She left the summit on Thursday afternoon. After a member of Leyen’s staff tested positive for COVID-19, she went to quarantine as well. She said that she has tested negative for the coronavirus.
On Friday, the apparel sector was a leading gainer. It is thanks to a six percent jump in shares of CAC 40 heavyweight LVMH Moet Hennessey. Partly offsetting steep declines elsewhere, the luxury goods maker reported strong growth at its Dior and Louis Vuitton brands.
That news gave a lift to the entire sector. Shares of Kering went up 2.7%, Hermes International and Burberry shares went up 3%.
Helped by a three percent rise in Daimler shares, the auto sector was also gaining. It happened after the German automaker reported preliminary third-quarter earnings above market consensus. The automaker said that it is expecting a healthy remainder of 2020.
Data showed that passenger-car registration rose in the European Union. It happened for the first time in a year in September.
That is leading news of the stocks.