Arab Today, arab today european stocks edge higher on positive data
Last Updated : GMT 14:22:50
Arab Today, arab today
Arab Today, arab today

European stocks edge higher on positive data

Arab Today, arab today

Arab Today, arab today European stocks edge higher on positive data

London - AFP

Europe's main stock markets mostly gained on Friday following positive eurozone numbers but London was unchanged after weaker-than-expected British growth data. London's benchmark FTSE 100 index was flat at 6,588.87 points around midday. In Paris, the CAC 40 index gained 0.33 percent to 4,393.34 points and Frankfurt's DAX 30 advanced 0.73 percent to stand at 9,520.01 compared with Thursday's closing values. Europe's major indices had closed mostly lower on Thursday, snapping a two-day winning streak, as fresh concerns over Ukraine came to the fore and traders cashed in profits from the recent rally. Asian equities edged higher in quiet trade on Friday, with Wall Street's performance on Thursday providing a tepid lead following a mixed batch of economic indicators, while Tokyo was buoyed by another pick-up in Japanese inflation, traders said. In foreign exchange trading on Friday, the euro slid to a one-month low of $1.3705. It later recovered to $1.3733, but still down from $1.3742 late on Thursday in New York. The dollar climbed to 102.34 yen from 102.17 yen on Thursday. The European single currency fell to 82.63 British pence from 83.72 pence on Thursday, while the pound firmed to $1.6619 from $1.6610. On the London Bullion Market, the price of gold dipped to $1,295.75 an ounce from $1,296 on Thursday. European stocks were buoyed by a new survey from the European Commission, showing that eurozone consumers and businesses have shrugged off the Crimea crisis and are at their most confident for two and a half years. The Commission's index of consumer and business sentiment for March rose for the 11th month in a row, hitting a 30-month high of 102.4 points. Sentiment rose strongly in the countries on the edge of the eurozone where the debt crisis hit hardest. The index was up 2.2 points in Spain and 1.3 points in Italy. Separate data showed that Britain's economy expanded by 1.7 percent last year, down slightly from a previous estimate, but remained the strongest growth since before the financial crisis. Gross domestic product for 2013 was down from a previous estimate of 1.8 percent, the Office for National Statistics said in a statement. GDP grew by an unrevised 0.7 percent in the fourth quarter of 2013 compared with activity in the previous three month period, the ONS added. Heading into the weekend, investors were keeping an eye on the release next week of key data from China, the United States and Japan.

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