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European stocks rose on Friday to reach fresh record highs as strong data out of the United States and China boosted hopes for a swift economic recovery from the coronavirus<\/span> pandemic. The German DAX climbed 0.9 percent, France’s CAC 40 index rose half a percent and the U.K.’s FTSE 100 added 0.7 percent. <\/p>\n Dutch bank ING gained 1.8 percent after announcing its plan to separate the Management Board Banking roles for technology<\/span> and operations.<\/p>\n Miners Anglo American, Rio Tinto and Antofagasta rose 1-2 percent while oil & gas firm BP Plc gained 0.8 percent.<\/p>\n Online supermarket Ocado Group advanced 1.5 percent. The company announced that it has commercially partnered with Oxford -based autonomous vehicle software company Oxbotica Ltd to develop a range of vehicles that will be integrated into the Ocado smart platform.<\/p>\n Essentra also gained 1.5 percent after reporting first quarter trading in line with expectations.<\/p>\n Cosmetics and beauty products giant L’Oreal Co. fell nearly 2 percent despite the company posting solid sales growth in the first quarter.<\/p>\n Automaker Daimler rallied 2.7 percent after its preliminary results for the first-quarter of 2021 came in significantly above market expectations, driven by higher vehicle prices and strong demand for its Mercedes-Benz cars, particularly in China.<\/p>\n BMW, Volkswagen and Renault rose 1-3 percent after industry data showed Europe’s new car registrations surged in March due to last year’s exceptionally low base of comparison caused by the strict Covid-19 restrictions introduced in most markets<\/span> in March 2020.<\/p>\n Registrations of new passenger cars increased 87.3 percent annually, in contrast to February’s 19.3 percent decline.<\/p>\n Saint-Gobain rose over 1 percent after it agreed to sell 67 percent of its Pipe business<\/span> in China to a consortium led by local management.<\/p>\n HeidelbergCement rallied 2 percent. The cement maker said that its preliminary results for the first quarter of 2021 were significantly above market expectations.<\/p>\n Pfeiffer Vacuum Technology AG shares jumped 14 percent. The company reported that its preliminary operating result for the first quarter 2021 increased 76.4 percent.<\/p>\n Meal-kit maker HelloFresh surged 4 percent after lifting its 2021 revenue guidance.<\/p>\n In economic releases, Eurozone consumer prices increased as initially estimated in March, final data from Eurostat showed.<\/p>\n Inflation accelerated to 1.3 percent in March from 0.9 percent in February. This was the third consecutive rise in prices and matched flash estimate released on March 31.<\/p>\n The euro area trade surplus declined in February as exports decreased amid rising imports, Eurostat reported.<\/p>\n The trade surplus rose to a seasonally adjusted EUR 18.4 billion in February from EUR 28.7 billion in January. Exports decreased 2.5 percent month-on-month, while imports were up 3.4 percent in February. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n
The pan European Stoxx 600 rose half a percent to 440.62 after Wall Street saw a record-setting session overnight. <\/p>\n