Commercial office buildings in the City of London, UK, on Monday, Aug. 5, 2024.
LONDON — European stocks closed higher on Friday as global equity markets looked to rebuild from the recent sell-off.
The pan-European Stoxx 600 gained 0.57%, taking the index to 499.18 — above its level a week ago, before a sharp downturn on Monday.
Technology stocks were 0.22% lower as healthcare rose 1.77%.
Global markets have been volatile this week as they have tried to shake off Monday's rout.
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U.S. stocks were initially lower Friday but climbed through the morning. The S&P 500 on Thursday saw its best session since November 2022 as fresh labor market data eased concerns about the state of the world's largest economy. The initial sell-off was in part triggered by separate U.S. jobs data last week coming in weaker than expected.
Both moves have led analysts to caution that markets may have outsize reactions to data releases and central bank commentary through August — typically a volatile month for stocks.
Asia-Pacific markets were mostly higher on Friday.
