\n<\/p>\n
Despite concerns about inflation, European markets<\/span> closed on a firm note on Friday as investors picked up stocks amid continued optimism about strong economic recovery.<\/p>\n Expectations that global central banks will not tighten their monetary policy or scale back stimulus underpinned sentiment.<\/p>\n Investors also looked ahead to the Federal Reserve’s monetary policy announcement, due next Wednesday (June 16).<\/p>\n The pan European Stoxx 600 climbed 0.65%. Germany’s DAX gained 0.78%, France’s CAC 40 ended 0.83% up and the U.K.’s FTSE 100 surged up 0.65%, while Switzerland’s SMI closed 0.26% up.<\/p>\n Among other markets in Europe, Austria, Belgium, Finland, Ireland, Netherlands, Portugal, Russia, Spain, Sweden and Turkey closed on firm note.<\/p>\n Denmark, Greece, Iceland and Norway edged up marginally, while Czech Republic and Poland closed weak.<\/p>\n In the UK market, Thungela Sources Limited shares soared 25.4%.<\/p>\n Sanne Group shares climbed 12%. The specialist fund administrator confirmed that it has received a fifth unsolicited, non-binding proposal from Cinven regarding a possible all cash offer at a price of 875 pence per share.<\/p>\n Melrose Industries, ICP, Glencore, Smurfit Kappa Group, Evraz, Intertek Group, 3I Group, Bunzl, Standard Life, Entain, Antofagasta, Smith (DS) and Halma gained 2 to 3%.<\/p>\n Informa, Just Eat Takeaway, BT Group, Imperial Brands, Ashtead Group, Sainsbury (J) and Standard Chartered ended with sharp to moderate losses.<\/p>\n In France, Renault rallied more than 7%. Valeo, Capgemini, WorldLine, Faurecia, ArcelorMittal, Teleperformance, Dassault Systemes, Airbus Group and LVMH also ended sharply higher.<\/p>\n In the German market, BMW, Daimler, Volkswagen, Thyssenkrupp, MTU Aero Engines, Deutsche Post, Continental, RWE and Adidas gained 1 to 2%. Deutsche Bank ended sharply lower.<\/p>\n In economic releases, the U.K. economy<\/span> grew at the fastest pace since July 2020 as government restrictions affecting economic activity continued to ease in April, data from the Office for Statistics showed.<\/p>\n Gross domestic product rose 2.3% month-on-month in April, faster than the 2.1 percent expansion seen in March. The rate was forecast to improve to 2.2%.<\/p>\n The German economy is projected to grow faster than previously estimated on the expectation that the vaccination campaign will suppress the pandemic quickly and sustainably, Bundesbank said in its bi-annual report.<\/p>\n The central bank forecast the largest euro area economy to expand 3.7% in 2021 versus 3% projected earlier. The outlook for 2022 was raised to 5.2% from 4.5%.<\/p>\n In 2023, real GDP growth is set to lose momentum, but will still grow 1.7% Bundesbank said.<\/p>\n Germany’s wholesale prices grew at the fastest pace since mid-2008 in May, data published by Destatis revealed. Wholesale prices rose 9.7% year-on-year in May, following a 7.2% increase in April. This was the fastest increase since July 2008, when prices gained 9.9%.<\/p>\n The annual growth was largely driven by the 46.8% jump in the petroleum product prices. <\/p>\n<\/p>\n<\/div>\n