European stocks gain as week nears end

European stocks rose today, Friday, but are on track to record a second weekly loss due to pressure from rising bond yields and oil prices. The STOXX 600 index increased by 0.2%, reaching 651.99 points, with the basic resources sector leading the gain, up 1.3%, supported by higher gold prices and a declining dollar. The markets were also affected by renewed fears of inflation, especially as Brent crude oil rose to its highest level in a month at $94.71 per barrel amid tensions in the Gulf, before retreating somewhat due to profit-taking.

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