European stocks rebounded with a bang Friday as recent central bank actions fell by the wayside and markets took heart from the latest bailout deal struck between Greece and the EU.
Many of the previous session's losers pared losses before storming ahead to post solid gains, aided by a series of ratings upgrades, while others simply rose with the tide.
The FTSE 100 rose 0.60% to close at 7,463 in London while its junior sibling, the FTSE 250, erased much of Thursday's loss with a gain of 1.2%.
In Frankfurt, the DAX index gained 0.48% to close at 13,736 while, in Paris, the CAC 40 added 0.89% to settle up at 5,250.
Benchmarks in southern Europe were also buoyant, with the FTSE MIB rising nearly a quarter-percent in Milan and the IBEX adding nearly half a percent in Madrid.
In individual stocks, the wildest price action was found among grocery retailers, with the sector falling across the continent in the wake of Amazon's (AZN - Get Report) move to buy Whole Foods (WFM) , which has left some investors fearing further disruption within a sector that is already beset by competition induced margin pressures.
Tesco (TSCDY) topped the list of fallers on the FTSE 100 in London, while J Sainsbury (JSAIY) was also not far behind, both with losses of more than 4%. Notably, WM Morrison (MRWSY) , which already has a partnership in place with Amazon, saw its stock gain 1% in response to the deal.
RWE (RWEOY) topped the DAX with a gain of more than 2% after being upgraded by analysts at Jefferies and Commerzbank.
"Given that the majority of RWE's debt is non-financial and there is limited appetite for large scale M&A, we expect management to propose a share buyback. We reiterate our Buy with a raised €22.10 per share price target," said Ahmed Farman, at Jefferies.