(Reuters) – European shares were poised to snap their longest weekly winning streak in nearly a year on Friday, on elevated bond yields and U.S. President Donald Trump’s latest tariff threats.
On the day, the pan-European STOXX 600 index rose 0.2%, boosted by the chemicals sector. The shares hit a one-week low on Thursday and were set to lose 0.2% for the week, on track to snap an eight-week winning streak – its longest such weekly streak since March 2024.
Elevated bond yields and tariff threats by President Trump kept investors on edge this week. The focus is on February’s flash PMI figures for the Euro zone, Germany, France and Britain, which are set to drop within the first hour of trading.
London’s FTSE 100 traded flat after data showed British retail sales rose by a much stronger-than-expected 1.7% in January, the biggest increase since May last year.
In earnings-driven moves, Standard Chartered climbed 4.7%. The lender announced a new $1.5 billion share buyback after reporting an 18% rise in annual profit.
The chemicals sector rose to the top among sectors, boosted by a 2.8% rise in Air Liquide after the industrial gases supplier raised its medium-term operating margin guidance after its 2024 sales slightly beat market expectations.
Ireland’s Kingspan jumped 10% after the company reported upbeat 2024 results.
(Reporting by Pranav Kashyap in Bangalore; Editing by Janane Venkatraman)
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