European Stock Indices Close at Highest Level in More Than Month

European stock indices rose on Friday at the close and achieved their second weekly gain in a row thanks to strong business results and optimism among investors regarding an interest rate cut in the US next September. The European Stoxx 600 index closed up by about 0.9 percent, while the leading stock index in the eurozone advanced 1.3 percent, and the two indexes reached their highest levels in more than a month during the session. Swedish AdTech shares jumped 16 percent to an unprecedented level after the technology solutions company said that expectations for the coming quarters are within reach. Ericsson shares also rose 4.3 percent after the Swedish communications equipment maker exceeded profit and sales expectations thanks to a recovery in demand in North America. The Swedish index rose 2.2 percent. The French CAC 40 index advanced 1.3 percent after a volatile week coinciding with the parliamentary elections. The Swedish Oxfood shares fell by 9 percent in a performance that was the worst on the Eu ropean Stoxx 600 index, after quarterly profits were negatively affected by costs associated with operational disruptions and restructuring of logistics services. Source: Qatar News Agency