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European stocks rebound at end of volatile week

Published 14/05/2021, 08:29
Updated 14/05/2021, 08:30
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
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 pan-European STOXX 600 index .STOXX rose 0.6% by 0718
GMT, with travel and leisure .SXTP and retail .SXRP 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.
Italy's Banco BPM BAMI.MI rose 2.2% After Deutsche Bank
upgraded the stock to "buy", saying the lender's "speculative
appeal" could increase in the next few months.
French food group Danone DANO.PA 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.

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