stock movements
The Stoxx 600 index of European stocks rose 1.1%, with the oil and gas sector index leading the gainer, up 2.7% after crude prices rose.
However, lower oil prices for most of the week led energy stocks to post their worst performance in seven weeks.
The Stoxx index fell 0.3% on a weekly basis, in the second weekly decline, but it was still less than the drop in the Standard & Poor’s 500 index, which lost 1.2% .
HSBC rose 2.7%, boosting the main index, after the bank successfully thwarted a bid to spin off and spin off its profitable Asian business unit at its annual investor meeting in Birmingham, England , but it still faces a rebellion within the board of directors and the salaries of its top executives.
Shares of German sportswear giant Adidas jumped 8.9% after posting better-than-expected first-quarter results.
Media stocks were the week’s biggest losers, as their index fell 5.8%, its worst weekly performance in more than three years. The index of food and drink companies rose 1.2%, to be the top gainer on a weekly basis.
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