European stocks ended trading this week with strong gains, amid optimism following a series of positive US data.

The European Stoxx 600 index Friday rose 0.3 percent , recording its best weekly performance since May 6, as it increased by 2.4 percent during the week.

The Financial Times index in London was the worst performer among its major peers in Europe, as it fell by 0.4 percent, after British retail sales rose by 0.5 percent in July, in line with expectations.

The automotive sector is the biggest winner in Friday’s trading, as it rose by 1.2 percent, supported by gains achieved by Ferrari shares, which increased by 3.1 percent, and Stellantis shares, which gained 1.9 percent.

US retail sales data yesterday, Thursday, showed strength in consumer spending, easing fears of an impending recession in the world’s largest economy.

Source : Qatar News Agency