European shares notch broad-based gains; defence stocks lag
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 19 2024
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Source: Reuters
European Market Performance: European shares rose, led by retail and basic resources stocks, with the pan-European STOXX 600 index closing 0.6% higher, marking its biggest weekly gain in three months as investors await key economic data and Fed Chair Powell's speech at Jackson Hole.
Sector Movements: While miners and retail stocks saw gains, defense stocks fell due to budget constraints affecting military aid to Ukraine; investors are preparing for significant economic indicators and the Fed's monetary policy direction this week.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
