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European stocks closed higher on Friday, extending recent gains, amid continued optimism about global economic recovery thanks to fairly upbeat data from China, the U.S. and Europe.<\/p>\n
Strong results from some top name U.S. and European companies contributed as well to the positive mood in the markets<\/span>.<\/p>\n The pan European Stoxx 600 climbed 0.9%. The U.K.’s FTSE 100 ended 0.52% up, Germany’s DAX gained 1.34%, France’s CAC 40 surged up 0.85% and Switzerland’s SMI ended higher by 0.57%.<\/p>\n Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Russia, Spain and Sweden ended with strong gains.<\/p>\n Greece and Poland closed weak, while Turkey and Ukraine ended flat.<\/p>\n Automobile stocks rallied 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 in March 2020.<\/p>\n Registrations of new passenger cars increased 87.3% annually, in contrast to February’s 19.3% decline.<\/p>\n In the UK market, Everaz, Tesco, Next, British American Tobacco, Natwest Group, BT Group, Melrose, Barclays Group and Flutter Entertainment gained 2 to 4%.<\/p>\n Online supermarket Ocado Group shares gained nearly 2%. 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 Rolls-Royce Holdings, Hikma Pharmaceuticals, ICP and Barratt Developments declined sharply.<\/p>\n In the French market, Valeo, ArcelorMittal, Safran, Renault, Air France-KLM, BNP Paribas and LVMH gained 2 to 4%. Publicis Groupe, Veolia and Hermes International also ended notably higher.<\/p>\n In Germany, Siemens moved up more than 4%. Daimler rallied 2.5% 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 Covestro, Continental, Volkswagen, Deutsche Bank, Bayer and BASF gained 2 to 3%. HeidelbergCement shares rose sharply after the company said that its preliminary results for the first quarter of 2021 were significantly above market expectations.<\/p>\n Dutch bank ING gained notable ground in positive territory after announcing its plan to separate the Management Board Banking roles for technology<\/span> and operations.<\/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% in March from 0.9% 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. 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% month-on-month, while imports were up 3.4% in February.<\/p>\n Switzerland’s producer and import prices declined in March, data from the Federal Statistical Office showed. Producer and import prices fell 0.2% year-on-year in March. The producer price index declined 0.4% annually in March and import prices increased 0.1%.<\/p>\n The U.S. and China, both have reported strong surge in retail sales in March. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n