European stocks advanced on Friday, supported by easing oil prices and a pause in the recent global bond selloff, which offered some relief to investors. The STOXX 50 climbed 0.9% to 6,320 points, while the broader STOXX 600 added 0.7%. Brent crude retreated after a two-day rally, following reports that the United States and Iran were considering a phased agreement that could reopen the Strait of Hormuz and lead to the lifting of the U.S. blockade on Iranian ports.
In geopolitics, U.S. President Donald Trump and Chinese President Xi Jinping wrapped up their bilateral talks in Washington, with Trump characterizing the meeting as “great.”
On the data front, German consumer sentiment deteriorated more sharply than expected heading into October, as rising energy costs eroded households’ income expectations. In contrast, UK consumer confidence unexpectedly climbed to its highest level in more than two years in September, reinforcing recent signs of resilience in the British economy.
