European Shares Bounce Back as French Stocks Rebound

European shares rose on Friday (Aug 28), rebounding from the previous session's selloff, while investors digested Federal Reserve Chair Kevin Warsh's speech at Jackson Hole.

The pan-European Stoxx 600 index closed 0.5 per cent higher at 655.16 points, marking a modest weekly gain after two consecutive weekly declines.

In France, the CAC 40 firmed about 1 per cent after sliding to a one-month low in the previous session due to concerns over the government's ability to rein in public finances ahead of next year's elections.

French lenders Societe Generale, BNP Paribas, and Credit Agricole rose between 1 per cent and 1.9 per cent, while EssilorLuxottica gained 2.4 per cent after announcing a share buyback plan.