European stocks rose in Friday trading, with investor sentiment improving somewhat after a strong sell-off hit technology shares in the previous session. Meanwhile, the US dollar pulled back, heading for its first weekly loss after three straight weeks of gains.
The improvement in markets came as concerns eased partially following turmoil linked to rising interest rates and debt-fueled financing of artificial intelligence investments.
Gains in European markets
The pan-European Stoxx 600 index rose 0.6%, while Germany’s DAX climbed about 1%. France’s CAC 40 gained 0.1%, while Britain’s FTSE 100 held steady.
In global markets, the MSCI World equity index rose 0.3%, even as it remained on track for a weekly loss.
Concerns continue to linger over companies tied to the artificial intelligence sector, particularly highly leveraged firms operating data centers.
Dollar slips as euro recovers
The dollar index fell 0.4% to 101.68 points, as US Treasury yields declined.
The weaker dollar helped the euro recover from its lowest level in 17 months, climbing to $1.1255.
In the bond market, government debt regained appeal as a safe haven, amid ongoing concerns over financial risks linked to some artificial intelligence companies.
Oil slips, gold rises
Brent crude futures fell to around $105.22 a barrel, but remained on track to post weekly gains.
Gold, meanwhile, benefited from the weaker dollar, rising to around $4,187.43 an ounce.
