European Markets Close Higher

(RTTNews) - European stocks closed higher on Friday, as investors made some purchases at several counters as markets resumed trading after Christmas holidays.

Activity was a bit subdued in most of the markets in the region amid a lack of triggers, and ahead of the New Year holidays coming up next week.

France's new premier Francois Bayrou has vowed to sharply narrow the nation's deficit to close to 5 percent of GDP, a level his predecessor unsuccessfully tried to reach.

Bank stocks found support amid a surge in regional government bond yields. Energy firms attracted buyers as oil prices climbed up on expectations economic stimulus efforts will prompt a recovery in China, the world's second-largest economy.

The pan European Stoxx 600 gained 0.67%. Germany's DAX closed higher by 0.68%, France's CAC 40 advanced 1% and the U.K.'s FTSE 100 edged up 0.16%. Switzerland's SMI gained 0.88%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Iceland, Netherlands, Norway, Portugal, Spain, Sweden and Turkiye closed higher.

Poland edged up marginally, while Ireland and Russia ended weak.

In the UK market, Centrica rallied about 2.3% after the company announced the start of the £300m extension of its share buyback, which is due to be completed by the end of September 2025.

Diageo, BP, Schrodders, Pearson, Coca-Cola HBC, United Utilities, HSBC Holdings and Aviva also closed higher.

Next shed about 2.6%. Pershing Square Holdings, Croda International, EasyJet, Anglo American Plc, Whitbread, RightMove, Alliance Witan and Endeavour Mining ended lower by 1 to 2.2%.

In the German market, Brenntag, Volkswagen, BMW, Bayer, Fresenius Medical Care, Mercedes-Benz, Commerzbank, Merck, Deutsche Bank, SAP and Daimler Truck Holding gained 1 to 2.3%.

Covestro and Siemens Energy both lost more than 2%. Munich RE ended down 1.2%.

In the French market, Credit Agricole climbed more than 2.5%. Stellantis, Bouygues, BNP Paribas, Teleperformance, AXA, Sanofi, Kering, Pernod Ricard, TotalEnergies, Engie, Vinci and Societe Generale gained 1 to 2%.