European stocks rebound thanks to limited rate hikes, strong ‎earnings

European stocks rose today, Friday, as sentiment was boosted by the limited interest rate hike approved by the European Central Bank, in addition to results from Adidas and Apple that exceeded market expectations.

According to “Reuters”, the European Stoxx 600 index rose 0.3 percent by 0715 GMT, but it is heading to record the second consecutive weekly loss.

Banking and energy stocks led the gains on the index, rising 1.2 percent and 1.8 percent, respectively, while mining stocks fell 0.2 percent.

The European Central Bank raised interest rates by 25 basis points, the smallest increase in the rate-raising cycle that began last summer, raising borrowing costs to 3.25 percent. However, he indicated that he would apply more emphasis in the future

Adidas shares jumped 5.2 percent after announcing better-than-expected results in the first quarter

In the United States, Apple, the world’s largest company by market value, surprised investors with the increase in iPhone sales, even with the decline in the global smart phone market.