European stocks stable led by and health sector gains ‎

European stocks were stable on Friday, as gains in health care stocks offset the decline in some luxury goods and technology stocks.

According to “Reuters”, the Stoxx 600 index fell by 0.03 percent by 0810 GMT, but it is heading to record gains of 0.6 percent in the last week before Christmas, after two consecutive weeks of losses.

The index closed down 1 percent on Thursday after data showing the strength of the labor market and economy in the United States raised fears that the Federal Reserve (the US central bank) would need to continue to raise interest rates aggressively for a longer period.

The mining sector companies recorded an increase of 0.4 percent and were the best performers among the various sectors on the STOXX 600 on Thursday.

However, the biggest support for Stokes 600 came from health care companies, which rose 0.3 percent, after a 4.9 percent jump in Bavarian Nordic shares, after the vaccine manufacturer signed a deal with the US Department of Defense.

Shares of some luxury goods companies focused on China, such as LVMH and Kring, pressured the main index, amid news that China expects to record a peak in Corona injuries within a week.

The technology sector fell 0.3 percent, hit by losses in chip stocks such as Extron and (ASML) Holding.