11.09.202616:19:18UTC+00European Stocks Rebound

European stocks closed higher on Friday as energy prices retreated from recent peaks, easing pressure on long-term sovereign bond yields. The Euro STOXX 50 rose 0.8% to 6,323, while the STOXX Europe 600 gained 0.5% to 639.1.

In geopolitical developments, GCC officials announced plans to meet Iranian counterparts next week to discuss potential shipping corridors for tankers in the Persian Gulf.

Bank and industrial shares advanced as lower energy prices and borrowing costs helped alleviate margin pressures in both sectors. Santander, BBVA, and UniCredit each climbed nearly 2%, while Siemens and Safran gained about 2.5%. Intesa Sanpaolo rose 2.6% after the Italian government signaled it would not interfere in the bank’s takeover bid for Banca MPS.

Technology stocks also moved higher, with Infineon surging 5%. Despite Friday’s gains, the Euro STOXX 50 ended the week down 1% and the STOXX 600 lost 1.6%, as investors remained wary of broader macroeconomic headwinds stemming from elevated energy prices and rising interest rates. The ECB raised policy rates yesterday, and markets are still pricing in further tightening.