European Shares Gain As Investors Cheer Strong Economic Data
(RTTNews) - European stocks edged higher on Friday after the release of better-than-expected regional data. Retreating bond yields also offered some support.
The German economy logged a stronger-than-estimated growth in the first quarter, detailed report from Destatis revealed.
Gross domestic product registered a quarterly growth of 0.4 percent compared to the previous estimate of 0.2 percent expansion. This followed a 0.2 percent contraction in the fourth quarter.
Elsewhere, U.K. retail sales rebounded more than expected in April as good weather boosted food store sales, official data showed.
Retail sales grew 1.2 percent on a monthly basis in April, following a revised 0.1 percent rise in March. Sales were expected to climb only 0.3 percent.
The GfK Consumer Confidence Index for the United Kingdom rose by 3 points to -20 in May 2025 on hopes of easing trade tensions and the interest rate reduction by the Bank of England.
The pan European STOXX 600 was up 0.2 percent at 551.49 and was on course for its sixth straight week of gains.
The German DAX and the U.K.'s FTSE 100 both rose around 0.4 percent, while France's CAC 40 was little changed.
In corporate news, British investment platform AJ Bell soared 7 percent after it posted a 12 percent year-over-year rise in half-yearly profit before tax and raised its FY25 guidance.
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