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European stocks closed higher on Friday, as investors shrugged off concerns about inflation and bet on hopes about strong earnings growth and economic recovery. <\/p>\n
The pan European Stoxx 600 climbed 0.3%. France’s CAC 40 moved up 0.45% and Germany’s DAX edged up 0.07%, while the U.K.’s FTSE 100 declined 0.49%. Switzerland’s SMI surged up 0.76%.<\/p>\n
Among other markets<\/span> in Europe, Denmark, Netherlands, Portugal, Sweden and Turkey closed with moderate gains. Finland edged up marginally.<\/p>\n Austria, Belgium, Czech Republic, Greece, Iceland, Ireland, Norway, Poland, Russia and Spain ended weak.<\/p>\n In the UK market, Burberry Group gained more than 4%. Ocado Group climbed 2.7% and RightMove gained 2.25%. BT Group, Ferguson, Smiths Group, Johnson Matthey, Halma, Bunzl, Auto Trader Group, ITV, Melrose Industries, Next, Smith & Nephew, Barratt Developments, Hargreaves Lansdown and Imperial Brands gained 1 to 2%.<\/p>\n Real estate investment trust Land Securities Group shares found support after after the company announced the sale of Harbour Exchange to Blackstone European Property Income Fund for 196.5 million pounds.<\/p>\n AstraZeneca plunged nearly 7% after its quarterly operating profit missed consensus estimate.<\/p>\n Darktrace shed about 4.4%. IAG ended 2.85% down, while Whitbread, Evraz and Compass Group shed 2 to 2.4%. Rolls-Royce Holdings, Royal Dutch Shell, B&M European Value Retail, ICH, Lloyds Banking Group, Fresnillo, BP and Royal Dutch Shell also closed notably lower.<\/p>\n In the French market, Renault gained more than 3.5% after Morgan Stanley raised the price target for the stock.<\/p>\n Valeo and Faurecia also gained more than 3%. Kering, Hermes International, LVMH, LOreal, Publicis Groupe, STMicroElectronics and Teleperformance also closed with strong gains.<\/p>\n Atos, ArcelorMittal, Air France-KLM, Technip, Accor, Airbus Group and Credit Agricole declined sharply.<\/p>\n In Germany, Vonovia, Zalando, Continental, Merck, Infineon Technologies, Covestro, Volkswagen and Puma gained 1 to 2%.<\/p>\n Deutsche Telekom gained 2% after raising its EBITDA guidance for fiscal 2021.<\/p>\n Shares of Deutsche Wohnen gained about 1.2% after the firm reaffirmed its earnings guidance for the current fiscal after posting a rise in its Funds From Operations for the nine-month period ended in September.<\/p>\n Siemens, RWE, SAP and MTU Aero Engines lost 1 to 2%.<\/p>\n Swiss luxury group Richemont rallied sharply after the company said said higher sales, a higher gross profit and good cost control have resulted in a six-month operating profit of 1.95 billion euros, up by 331% over the prior-year period.<\/p>\n In economic news, Eurozone industrial output dropped 0.2% month-on-month, slower than the 1.7% decline seen in August, data from Eurostat showed. Economists had forecast a monthly decline of 0.5%. <\/p>\n On a yearly basis, industrial production growth accelerated to 5.2% from 4.9% in the previous month. The rate was expected to ease to 4.1%.<\/p>\n Industrial production in the EU27 decreased 0.5% on month in September, but expanded 5% from the same period last year. <\/p>\n<\/p>\n<\/div>\n