European stocks bounce back as oil prices fall
European stocks made a modest comeback on Friday after oil prices slipped below $100 a barrel, a bit of relief given all the tension around the Iran conflict.
The Stoxx Europe 600 ticked up 0.1% by midday in London, with falling oil also helping financial stocks bounce back thanks to lower bond yields.
Financial stocks bounce back thanks to lower bond yields
BE Semiconductor Industries NV shot up 14% on takeover rumors, and Zalando jumped 9% after a positive analyst review.
On the flip side, Vivendi SE dropped after missing revenue expectations, and Berkeley Group Holdings slid as investors worried about how the ongoing conflict could shake things up.
Even though European stocks had been beating US ones earlier this year, March saw some nerves: about $200 million flowed out of European stock funds for the first time in six weeks.