European shares are higher Friday, following global markets into the green as trade-related worries dissipate and investors focus on positive business-specific news. Banks and miners have helped boost indices, as have autos, with the current mood reflecting fewer worries that the US-China trade dispute will prove too disruptive.
By 1255 BST, the EUROSTOXX 600 was 0.38% higher, while the EUROSTOXX 50 had gained 0.53%. The German DAX was 0.51% in the green, the French CAC rose 0.60% and the Spanish IBEX was up 0.01%.
Europe follows global markets higher
European stocks have followed their global counterparts higher Monday. Both the US Thursday session and the Asian session overnight, were more upbeat as investors are increasingly showing less concern that an all-out trade war will develop from the US-China disagreements.
German stocks related to the export markets – which is many of them, including autos – were in the green Friday:
- BMW shares rose 0.77% to €85.98.
- Volkswagen shares gained 1.39% to hit €154.62.
- Audi shares moved 1.06% into the green at €764.00.
Other stock movers
The positive tone helped boost a variety of stocks. However, it wasn’t all good news.
Ryanair shares fell after its tough shareholder meeting Thursday and news that CEO Michael O’Leary may leave the budget airline within five years. In addition, the Irish airline is being investigated by Italy for its new hand luggage charges.
Ryanair shares were 0.15% lower at €13.47.
Elsewhere, Moller Maersk shares moved up 2.05% to DKK9,456 after an analyst upgrade from HSBC. The bank now rates the stock at ‘buy’ up from ‘hold’ and has raised its target price to DKK11,100 from DKK9,100.
Shares in German retailer Metro AG, meanwhile, were also in positive territory Friday, after a Czech investor purchased more shares in the firm, raising expectations of a takeover offer. Metro shares gained 3.62% to €14.18.