Europe stocks close slightly higher, snap longest losing streak since 2018

European markets closed slightly higher Friday, following US stocks with tentative gains amid uncertainty over the inflationary outlook, according to CNBC. The basic resources sector fell 0.4 per cent as media stocks rose 1.1 per cent. The pan-European Stoxx 600 index closed 0.22 per cent higher, breaking a seven-session losing streak, its longest since February 2018. The index has lost 1 per cent this week, according to LSEG data. Global market sentiment has slipped in recent days as investors assess weak Chinese data, higher government bond yields and renewed inflationary concerns in the US The US consumer price index for August will be released Sept. 13, while investors are also monitoring oil and gas prices, which have both climbed this week on Saudi Arabian supply cuts and strike action in Australia. The euro zone released final figures on Thursday, indicating that the economy grew by 0.1 per cent in the second quarter compared to the previous period. This was lower than the 0.3 per cent growth estimated in a preliminary reading. Asia-Pacific markets closed lower on Friday as Japan released revised second-quarter gross domestic product figures. Hong Kong canceled trade for the whole day because of a storm warning.