- European stocks clawed back from steep losses in the previous session, with the pan-European Stoxx 600 up 1.3%.
- Thyssenkrupp shares bounced almost 11% after Liberty Steel launched a takeover bid for its beleaguered steel unit.
LONDON — European markets closed sharply higher Friday, clawing back from steep losses in the previous session.
The pan-European Stoxx 600 closed up by 1.3% provisionally, its best session in nearly three weeks.
Autos jumped 3.6% as all but one sector gained. Telecoms bucked the upward trend to fall 0.2%. All of the major bourses were positive, led by France's CAC which rose by nearly 2.2%.
U.S. stocks also rose on Friday as Wall Street attempted to snap a three-day losing streak. Fresh data showed that U.S. retail sales jumped 1.9% in September, smashing a Dow Jones estimate of 0.7%. Excluding autos, sales were up 1.5%, better than a 0.4% estimate.
Back in Europe, U.K. Prime Minister Boris Johnson said he would seek a no-deal Brexit unless there was a fundamental change of approach from the European Union. Sterling initially sank versus the dollar on his comments, before trading marginally higher.
At the other end of the European blue chip index, Getinge dropped 6% after reporting a fall in ventilator orders, despite soaring profits in the third quarter, while Galapagos shares fell 7% after both Credit Suisse and KBC Securities cut the Belgian pharmaceutical company's price target.