06.02.202617:25:58UTC+00European Stocks End Week on Positive Note

European stocks closed significantly higher on Friday, recovering from sharp declines in the previous session. This rebound alleviated concerns about AI-related disruptions and inflated valuations among software stocks. The Eurozone's STOXX 50 rose by 1.2% to 5,998, while the broader pan-European STOXX 600 increased by 0.9% to 617. ASML experienced a nearly 4% surge, recouping heavy losses earlier in the week, as tech shares in general rebounded. Meanwhile, Vinci saw a substantial rise of about 10% after surpassing earnings forecasts for the fourth quarter. Additionally, Rheinmetall climbed 2% as analysts revised their interpretation of the company's guidance from the previous session. Siemens and Siemens Energy also recovered following significant drops earlier in the week. Conversely, Stellantis saw a nearly 20% decline after announcing it anticipates a €22 billion expense tied to restructuring efforts aimed at accelerating the transition to electric and hybrid vehicles.