EURO STOXX 50

Delayed Switzerland - 11:50 2022-11-25 am EST
3962.41 PTS +0.01%

Tech, miners boost European stocks; German consumer sentiment set to hit a record low

08/26/2022 | 03:36am

(Reuters) - European shares inched higher on Friday as a tech-fuelled Wall Street rally overnight lifted European peers, but sentiment was weighed down by worries about the path for interest rate hikes and rising energy costs.

The pan-European STOXX 600 rose 0.4% and was set to end the week 0.5% lower.

German consumer sentiment is set to hit a record low for the third month in a row in September as households brace for surging energy bills, a survey showed, while French consumer confidence unexpectedly rose in August.

On Friday, miners rose as copper prices gained on hopes that fresh stimulus measures from China would boost demand. [MET/L]

Tech stocks rose 1%, after Nvidia and Amazon fuelled a rally ahead of the Federal Reserve Chair Jerome Powell's speech at the Jackson Hole conference. [.N]

Among other stocks, Danish brewery Carlsberg slipped 0.8% after saying its Poland subsidiary could cut or halt beer production due to a lack of carbon dioxide deliveries.

Crisis-hit SAS slipped after reporting a deeper May-July loss than a year earlier.

(Reporting by Anisha Sircar in Bengaluru: Editing by Sriraj Kalluvila)

Reuters 2022
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