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European Shares Advance on Friday

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By Investors Hub

European stocks have advanced on Friday as investors digest trade data from China and earnings news from JP Morgan Chase and Wells Fargo.

In economic news, a Eurostat report showed that Eurozone industrial output fell by less than expected in February.

While the German DAX Index has climbed by 0.7 percent, the French CAC 40 Index is up by 0.4 percent and the U.K.?s FTSE 100 Index is up by 0.2 percent.

Covestro has rallied after the Bayer spinoff said it is on a long-term and profitable growth track and remains well positioned and highly profitable.

Spanish bank Banco Santander has also moved higher after announcing an offer to buy all shares of Santander Mexico it doesn’t own.

UniCredit, Italy’s biggest bank, has also moved to the upside despite saying it is one of the banks accused of running a cartel in trading eurozone government bonds between 2007 and 2012.

On the other hand, shares of online trading platform Plus500 have slumped after the company reported a big drop in quarterly revenue.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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