{"id":19547,"date":"2022-03-11T17:51:27","date_gmt":"2022-03-11T17:51:27","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/03\/11\/european-stocks-close-on-firm-note-7\/"},"modified":"2022-03-11T17:51:27","modified_gmt":"2022-03-11T17:51:27","slug":"european-stocks-close-on-firm-note-7","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/03\/11\/european-stocks-close-on-firm-note-7\/","title":{"rendered":"European Stocks Close On Firm Note"},"content":{"rendered":"
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European stocks closed higher on Friday amid hopes of some positive outcome from the talks between Russia and Ukraine, and data showing stronger than expected UK GDP growth.<\/p>\n

Hopes about a diplomatic solution to the war in Ukraine rose following reports quoting Russian President Vladimir Putin as stating that there were certain “positive shifts” in talks with Ukraine.<\/p>\n

Investors also continued to digest the latest policy announcement from the European Central Bank, and assess inflation and the likely impact of the Ukraine war on the global economy<\/span>.<\/p>\n

The pan European Stoxx 600 climbed 0.95%. The U.K.’s FTSE 100 advanced 0.8%, Germany’s DAX surged up 1.38% and France’s CAC 40 moved up 0.85%, while Switzerland’s SMI gained 0.92%.<\/p>\n

Among other markets<\/span> in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Iceland, Ireland, Poland, Portugal, Spain and Sweden closed with sharp to moderate gains.<\/p>\n

Netherlands and Turkey closed with modest gains, while Denmark and Norway closed marginally up.<\/p>\n

In the UK market, Pearson soared 18%. Polymetal International surged up 12.1% and Melrose Industries climbed 7.3%.<\/p>\n

Flutter Entertainment, Entain, CRH, Admiral Group, Ashtead Group, Ferguson, Intercontinental Hotels Group and Coca-Cola HBC gained 3 to 5%.<\/p>\n

Taylor Wimpey, Whitbread, Glencore, Persimmon, Informa, Rentokil Initial, Anglo American Plc, Compass Group and Barclays gained 2 to 2.8%.<\/p>\n

Fresnillo tumbled 4.7%. United Utilities, Severn Trent and National Grid lost 1.4 to 2%. Reckitt Benckiser and British American Tobacco both ended lower by a little over 1%.<\/p>\n

In the German market, Adidas and Airbus both gained nearly 4%. Siemens, Allianz and Bayer moved up 3 to 3.5%, while Deutsche Wohnen, HeidelbergCement, SAP, Deutsche Wohnen, Fresenius Medical Care, Infineon Technologies, Porsche Automobil, BASF, Puma, Deutsche Post and Munich RE gained 1.3 to 2.5%.<\/p>\n

Lanxess AG shares gained about 4.5%. The German specialty chemicals company reported a decline in earnings for the full year while sales improved from last year.<\/p>\n

Sartorius and Symrise shed about 3.2% and 3%, respectively. RWE, Qiagen, Deutsche Bank, Brenntag and HelloFresh lost 1 to 2%.<\/p>\n

In the French market, Airbus rallied nearly 4%. ArcelorMittal, Accor, Safran, Publicis Groupe, AXA and Sodexo gained 2 to 3.5%. Saint Gobain, LVMH, Schneider Electric, Unibail Rodamco and Air Liquide also ended notably higher.<\/p>\n

French ophthalmic company EssilorLuxottica nearly 3%. The company reported that its net profit attributable to owners of the parent for fiscal year 2021 climbed to 1.46 billion euros from last year’s 85 million euros.<\/p>\n

Valeo, Renault and Faurecia closed weak.<\/p>\n

Italian fashion group Tod’s jumped nearly 8%. The company expressed optimism for 2022 after swinging to an operating profit in 2021 on higher sales.<\/p>\n

In economic releases, German consumer price inflation rose to 5.1% in February from 4.9% in January, final results from the statistical office Destatis revealed. The rate matched the flash estimate published on March 1.<\/p>\n

U.K. GDP grew 0.8% in January, in contrast to the 0.2% fall in December, when the Omicron variant of the coronavirus<\/span> and Plan B restrictions had a more significant impact, official data showed. Economists had forecast a marginal growth of 0.2% for January.<\/p>\n

The UK visible trade deficit increased sharply in January due to a double-digit fall in exports amid surging imports, the Office for National Statistics said on Friday. The visible trade deficit widened to GBP 26.5 billion from GBP 12.35 billion in December. <\/p>\n<\/p>\n<\/div>\n