European Stocks Surge Amid US Economic Data Boost

European shares climbed 1% on Friday, marking the fourth consecutive session of gains, recovering from earlier weekly losses. The STOXX 600 index regained the 500 mark, driven by positive U.S. jobs data and sectoral upticks in real estate and travel. Leading individual gainers included LEG Immobilien and Lotus Bakeries.

European shares witnessed a 1% rise on Friday, achieving gains for a fourth consecutive session and nearly recovering all weekly losses spurred by global recession concerns. The STOXX 600 index surged by 1%, regaining the pivotal 500 mark, marking its longest winning streak since mid-May.

The boost followed a U.S. jobs report that calmed investor worries ignited by July's downbeat labor market data. Key indices across Europe, including the French CAC 40, Germany's DAX, Spain's IBEX 35, and Britain's FTSE 100, saw gains between 0.6% and 1.2%.

Real estate was a major driver, led by a 4.8% jump in Germany's LEG Immobilien after a smaller-than-expected second-quarter loss. Travel and leisure sectors also advanced, fueled by a potential buyback from Ryanair. In the basic resources sector, positive U.S. economic data pushed up base metal prices by 2.1%, while Lotus Bakeries saw a 7% rise following strong earnings results.