European Shares Edge Higher In Cautious Trade

(RTTNews) - European stocks traded higher on Friday as robust U.S. economic data and encouraging tech earnings helped ease tariff-related concerns for now.

The pan European STOXX 600 rose 0.4 percent to 549.18 after rallying 1 percent on Thursday to halt a four-day losing streak.

The German DAX gained 0.4 percent, France's CAC 40 added 0.6 percent and the U.K.'s FTSE 100 was up 0.2 percent.

Salzgitter AG shares plunged 15 percent after the German steel company cut its full-year guidance in the wake of a weak second quarter.

Chemicals giant BASF SE gained 1.2 percent after it signed a 10-year natural gas supply agreement with Equinor.

Mining giant BHP rose 1.3 percent in London after reporting record annual iron ore and copper output.

Drug maker GSK slumped 6 percent after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep.

Engineering group Senior surged 9.2 percent as it agreed to sell its Aerostructures division for up to £200 million and unveiled a £40 million share buyback.

Burberry Group shares climbed 4.8 percent. The luxury brand reported a smaller-than-expected dip in first-quarter comparable sales.

Swedish home appliances maker Electrolux nosedived 14 percent despite Q2 operating profit coming above expectations.

Defense giant Saab soared 11 percent after reporting stronger-than-expected profit and sales growth for the second quarter.

In economic releases, Germany's producer prices declined for the fourth straight month in June on lower energy prices, Destatis reported.

The producer price index dropped 1.3 percent year-on-year in June, faster than the 1.2 percent fall in May. This was the fourth consecutive decrease.