Friday saw increases in European markets, driven by strong sessions that have helped them approach new highs. At 10:55 a.m. in London, the Stoxx 600 index increased by 0.6%, with mining stocks driving the gain, up 2.4%.
Retail sales in the UK beat forecasts, giving the economy some hope after previous statistics showed it had entered a technical recession. Sales increased by 3.4% month over month, above the 1.5% growth predicted by an analyst survey conducted by Reuters. This was the biggest monthly gain since April 2021 after a sharp decline in December that hurt stores over the vital Christmas season.
A 20% increase in full-year pre-tax profit was reported by NatWest bank, exceeding forecasts despite a minor fall in its net interest margin. This came despite a slowing in results reports on Friday. After opening lower, the bank’s shares rose to a gain of 5%.
Source (CNBC)
