European Stocks in Positive Territory; Germany’s DAX and France’s CAC Rise by More than 2%
European stocks rose on Friday after better-than-expected U.S. payroll datafor April was released.
Adding to the positive sentiment were signals from China that the country was seeking trade negotiations with the U.S.
The Stoxx 600 index provisionally closed up 1.7%, led by industrials and technology stocks, both up by more than 2%.
London's FTSE 100 index, which has gained more than 5% since the beginning of the year, was 1.2% higher on Friday, setting a new record for its longest ever run of daily gains.
In currency markets, the euro held gains after a preliminary reading showed inflation in the euro zone held steady at 2.2% in April, despite economists forecasting a dip to 2.1%.
Most markets were closed on Thursday for the May 1 holiday. London’s FTSE 100 ended a choppy session 0.02% higher to mark its 14th straight session in the green, drawing level with its best run since 2017.
Shell shares rose 2.2% after the oil major beat profit expectations for the first quarter and announced its latest $3.5 billion share buyback.
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Asia-Pacific markets moved higher on Friday after China said that it was evaluating the possibility of trade talks with the White House. Authorities reiterated Beijing’s request for the U.S. to remove all unilateral tariffs, which have taken duties on Chinese imports to triple digits.
Earlier this week, U.S. Treasury Secretary Scott Bessent said it was “up to China to de-escalate” the situation, which is driving up U.S. consumer goods prices as it slows Chinese economic activity.