(Reuters) – European shares closed higher on Friday, marking weekly gains as investors focused on a broadly supportive earnings season and improving economic data in Europe rather than rising U.S.-China tensions. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 6, 2020. REUTERS/Staff The main indexes spent the morning in the red after U.S. President Donald Trump moved to ban U.S. transactions with the Chinese owners of messaging app WeChat and video-sharing app TikTok, further escalating friction with Beijing. Amsterdam-listed Prosus (PRX.AS), with its biggest investment in Tencent (0700.HK), fell 4.0%. Markets, however, stabilised later, boosted by telecoms .SXKP, technology .SX8P and healthcare .SXDP stocks. The pan-European STOXX 600 index , up 0.3%, closed out with weekly gains of 2%. German stocks .GDAXI rose 0.7%, while London’s FTSE 100 .FTSE and France’s CAC 40 .FCHI were flat, but all logged weekly rises. Data showed U.S. jobs increased by a better-than-expected 1.763 million in July, although the pace of recovery slowed amid a resurgence in new coronavirus infections, pressuring the White House and Congress to agree another aid package. “The jobs numbers were surprisingly good,” said Nancy Tengler, chief investment officer of Laffer… Read full this story
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