European stocks rise amid oil drop and Middle East tensions

European stocks are heading to end three weeks of losses, with weekly gains approaching 1% due to a decline in oil prices, despite ongoing caution regarding developments in the Middle East and rising bond yields. The STOXX 600 index increased by 0.6% to 640.43 points, with energy stocks down by 0.7%, while airline and basic resources stocks rose, supported by improved market outlooks. Expectations of rising interest rates in the Eurozone are intensifying due to higher bond yields and continued monetary tightening, despite a decline in consumer sentiment in Germany driven by rising energy prices.

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