European markets closed slightly higher Friday, following U.S. stocks with tentative gains amid uncertainty over the inflationary outlook.
The basic resources sector fell 0.4% as media stocks rose 1.1%. The pan-European Stoxx 600 index closed 0.22% higher, breaking a seven-session losing streak, its longest since February 2018. The index has lost 1% this week, according to LSEG data.
European markets
Global market sentiment has slipped in recent days as investors assess weak Chinese data, higher government bond yields and renewed inflationary concerns in the U.S.
The U.S. consumer price index for August will be released Sept. 13, while investors are also monitoring oil and gas prices, which have both climbed this week on Saudi Arabian supply cuts and strike action in Australia.
The euro zone released final figures on Thursday, indicating that the economy grew by 0.1% in the second quarter compared to the previous period. This was lower than the 0.3% growth estimated in a preliminary reading.
Asia-Pacific markets closed lower on Friday as Japan released revised second-quarter gross domestic product figures. Hong Kong canceled trade for the whole day because of a storm warning.