European shares boosted by strong earnings reports while tech stocks mostly bounce back on Wall St
A benign inflation report boosted sentiment on US markets with many of the tech stocks also recovering lost ground. Photograph: Spencer Platt/Getty Images
Ryanair also bounced back, adding 3.55 per cent over the day to close at €15.01. The stock has been under pressure this week following a quarterly profit slump. Hotel group Dalata gained 2 per cent to finish at €4.20.British mid-cap stocks rallied to their strongest finish in more than two years on Friday, helped by a slew of upbeat company earnings reports and a rebound on Wall Street following the benign US inflation data.
Babcock International climbed 8.6 per cent after the defence engineering company maintained its full-year forecast, while Jupiter Fund Management rose 6.8 per cent after the company reported forecast-beating profit.The pan-European STOXX 600 index closed 0.8 per cent higher after hitting a more than two-month low in the previous session. That saw it finish with a modest weekly advance of about 0.5 per cent.
Among other headlining stocks, French IT consulting group Capgemini lost 2.5 per cent after forecasting a surprise fall in annual revenue.
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