FX.co ★ European Stocks End First Week of August on a Strong Note

European stocks traded higher on Friday, with both the STOXX 50 and STOXX 600 rising 0.2% to once again set fresh record highs. Earnings remained in focus as investors also monitored developments in the Middle East. On the data front, Germany’s industrial production and exports beat expectations.

Kingspan surged more than 12%, leading gains on the STOXX 600 after the company raised its full-year profit guidance. Genmab advanced over 6% following stronger first-half revenue. SAP shares climbed nearly 3%, while Rheinmetall gained 2%. Among large caps, Novartis added 1%, AstraZeneca rose 1.6%, and Airbus was up 0.8%.

In contrast, Munich Re fell 2.7%, as its results failed to impress investors despite a 6% increase in Q2 net profit. For the week, the STOXX 50 advanced 2.4%, while the STOXX 600 gained 1.4%.