By Investors Hub
European stocks have moved sharply higher on Friday as investors shrugged off trade war worries and welcomed news on the formation of a new government in Italy, the eurozone’s third-largest economy.
While the U.K.?s FTSE 100 Index is climbing by 0.7 percent, the German DAX Index is up by 1.2 percent and the French CAC 40 Index is up by 1.4 percent.
Italy’s anti-establishment Five Star Movement and the far-right League reached a deal to form a populist government, helping avert the prospect of a snap election.
On the data front, the upturn in the Eurozone manufacturing sector showed further signs of cooling in May, final data from IHS Markit showed.
The factory Purchasing Managers’ Index fell to a 15-month low of 55.5 in May from 56.2 in April, matching the flash estimate.
Separately, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed the U.K. manufacturing sector expanded at a faster pace in May.
The manufacturing Purchasing Managers’ Index unexpectedly rose to 54.4 in May from a 17-month low of 53.9 in April. The score was expected to drop to 53.5.
Royal Bank of Scotland Group has moved to the upside after Standard & Poor’s upgraded the long-term ratings of National Westminster Bank Plc.
Deutsche Bank shares have also rallied. Responding to media reports regarding the regulatory ratings of its U.S. entities, the German lender said that it is highly focused on addressing identified weaknesses in its U.S. operations.
Meanwhile, Dialog Semiconductor shares have slumped after a warning that Apple will source fewer main smartphone power chips from the company.
Swedish radiation therapy equipment maker Elekta has also dropped after its fiscal fourth quarter adjusted operating profit came in below analyst estimates.
Adedapo Adesanya 
Modupe Gbadeyanka