European stocks rose at the open on Friday, looking to end a seven-day losing streak, as investors turned to defensive stocks like utilities amid signs of a global economic downturn.
Europe’s region-wide Stoxx Europe 600 rose 0.3 per cent at the opening bell, but remained on track to end the week almost 1 per cent lower. France’s Cac 40 and Germany’s Dax also added 0.3 per cent on Friday.
The region was buoyed by utility stocks, up 0.3 per cent, as they tend to be less sensitive to changes in the economic cycle and so become more attractive when investors expect growth to slow.
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