European shares rally into close after volatile week

Freitag, 14. Mai 2021 17:31

European stock markets rallied at the end of the session on Friday amid more upbeat global sentiment. The trading week was marked by high volatility as rising consumer prices in the United States sparked fears of the Federal Reserve tightening its monetary policy.

Earlier in the day, the minutes of the European Central Bank’s last monetary policy meeting revealed officials expect a "firm rebound" in economic activity this year. Meanwhile, investors continued to focus on the pandemic and the so-called Indian coronavirus variant, which left four people in the UK dead.

The DAX closed 1.42% in the green as MTU Aero Engines led the gains in Frankfurt. The CAC 40 surged 1.54% at the end of trading in Paris on the back of strong gains in Safran, Renault and Airbus. The FTSE 100 jumped 1.15% at the close; Burberry soared 4.51% as the top performer in London.

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Breaking the News / JC