European STOXX 600 posts best weekly gain amid oil fall
European stocks made a comeback this week, with the STOXX 600 index up 0.4% on Friday and notching its best weekly gain since early August.
The boost came as oil prices fell and hopes grew for a Middle East ceasefire, though investors are still keeping an eye on global tensions and rising borrowing costs.
Banks, airlines rally, yields climb
Bank shares led the charge with a 1.3% jump: UBS stood out, rising 3.5% amid talk of leaving Switzerland.
Airlines like Ryanair and Lufthansa also saw solid gains thanks to cheaper oil, while energy stocks took a hit.
Meanwhile, Finland's Konecranes surged up 7.4% after announcing a stock buyback plan, but eurozone bond yields kept climbing for the seventh week in a row as increasingly hawkish signals from central banks pushed up expectations for policy rates.