Europe seeks to reaffirm the strength at the weekly closing

The continental stock markets seek to end a week positively in which they have intensified the dynamics of ups and downs seen in recent days in the trading floors of Europe. Throughout the last sessions, the EuroStoxx 50 has gone from testing the support of 3,900 points to being ready to find support again at the 4,040 points.

Analysts believe that the EuroStoxx 50 could end up signing its fifth cons. As long as the EuroStoxx 50 remains within this price range, equality will be maintained in the debate involving bulls and bears, specifically between those who buy looking for higher increases and those who sell to avoid the possibility of seeing a correction.

South Korean Stock market closed in red

The Seoul Stock Exchange closed today with a 0.19% drop in its main indicator. The selective South Korean Kospi lost 5.86 points on Friday to stand at 3,156.42 units. Meanwhile, the Kosdaq technology stock index dropped by 0.57%, or 5.5 points, to close at 965.63 units.

The benchmark started the day higher, especially thanks to the advance of the Nasdaq on Wall Street.

However, the direction of the session changed when the Kospi began to approach 3,200 units. Besides, foreign and institutional investors became net sellers again due to the need to capture profits.

Local analysts also pointed out that the South Korean market seems to lack clear direction these days. It results from the doubts raised by the rise in inflation in the US and Europe and the possibility that central banks will begin to withdraw stimulus.

Samsung Electronics advanced by 0.75% today. 

In turn, Naver, the operator of the largest South Korean internet portal, improved by 2.56%. Besides, Kakao, the country’s main instant messaging application operator, increased its value by 3.08%.

However, in the biopharmaceutical sector, Samsung Biologics sank by 3.37%, and its competitor, Celltrion, depreciated by 0.56%.