European Shares Mostly Higher With Flash PMI Readings In Focus

RTTNews | 87 dni temu

(RTTNews) - European stocks were slightly higher on Friday, with earnings and flash PMI readings in focus.

Activity in Germany's manufacturing sector improved more-than-expected in February, while services sector activity deteriorated slightly, according to a report published by the HCOB survey.

The flash readings for France's private sector signaled the steepest downturn since September 2023.

Elsewhere, U.K. retail sales expanded at the fastest pace in eight months in January due to the rebound in food store sales volume, the Office for National Statistics said.

Retail sales volume increased 1.7 percent in January from December. The monthly growth confounded a revised fall of 0.6 percent in December.

This was the first increase in five months and was also stronger than the expected growth of 0.4 percent.

The pan European STOXX 600 rose 0.3 percent to 552.37 but was on track for a small weekly loss following U.S. President Donald Trump's tariff threats.

The German DAX was marginally higher ahead of Sunday's snap election. France's CAC 40 gained 0.3 percent and the U.K.'s FTSE 100 was flat with a positive bias.

Spanish energy firm Repsol fell 1.2 percent after cutting its 2030 target for green hydrogen production by up to 63 percent.

Air Liquide jumped 3.2 percent. The French industrial gases supplier lifted its medium-term operating margin guidance after posting 2024 sales slightly above expectations.

Swiss construction chemicals maker Sika AG climbed 2.6 percent on posting improved full-year earnings.

British food processing and retailing company Associated British Foods advanced 1.3 percent after launching the second tranche of its share buyback program.

Standard Chartered jumped 5.4 percent as it posted strong annual earnings and announced a $1.5 bln share buyback.

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