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European Shares Climb On Fed Pause Hopes
(RTTNews) - European stocks traded sharply higher on Friday, with Fed pause hopes and easing U.S. debt default worries helping underpin sentiment ahead of the all-important U.S. jobs data due later in the day.
On a light day on the economic front, data showed France's industrial production rebounded in April, led by a sharp recovery in petroleum output.
Industrial output logged a monthly growth of 0.8 percent, reversing the 1.1 percent decrease in March. Production was expected to climb 0.3 percent.
The pan European STOXX 600 climbed 0.9 percent to 459.15 after rising 0.8 percent on Thursday.
The German DAX, France's CAC 40 and the U.K.'s FTSE 100 were up between 0.9 percent and 1.1 percent.
Ryanair Holdings rose 1 percent after the Irish airline said its monthly traffic hit a record high in May.
Higher copper prices lifted miners, with Anglo American, Antofagasta and Glencore surging 4-6 percent.
Oil & gas firm BP Plc rallied 2.2 percent and Shell added 1.5 percent as oil extended overnight gains, heading into the June 4 OPEC+ policy meeting.
Dechra Pharmaceuticals soared 8.3 percent after it has agreed to be taken over in a £4.46bn deal.
PayPoint, an ecommerce services provider, climbed 6.6 percent after reiterating its guidance for the full year.
German sportswear maker Puma jumped 4.5 percent and peer Adidas rallied 4.2 percent after U.S. retailer Lululemon Athletica posted strong results for its latest quarter and raised its annual sales and profit forecasts.
ProSiebenSat.1 climbed 2.3 percent after Czech investment group PPF raised its stake in the media group.
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