European stocks rise, boosted by health car heading for second ‎weekly gain

European stocks rose today, Friday, to close to their highest levels in nine months, supported by the rise in shares of health care companies and the unexpected growth of the British economy in November, as investors await the results of the operations of major US banks.

According to “Reuters”, the European Stoxx 600 index rose 0.2 percent by 0811 GMT, and the British Financial Times 100 index rose 0.4 percent, after data showed that the British economy grew by 0.1 percent in November.

European stocks are heading for recording gains for the second week in a row, at an optimistic start to January and the new year, after data indicated slowing inflation in the euro zone and the United States, which could allow central banks to slow the pace of monetary tightening.

Shares of technology companies, which are highly sensitive to interest rates, and stocks of retail companies have led the gains since the beginning of the year, up 13 percent and 14.4 percent, respectively, after the two sectors suffered in 2022, which witnessed fears of an economic slowdown and raising interest rates.

Healthcare stocks were the biggest supporters of the European index on Friday, with Novo Nordisk and Roche Holdings rising more than 1.5 percent in early trade.

Shares of online gaming Kindred Group fell 16.6 percent after a warning about fourth-quarter earnings.