Dipo Olowookere
By Investors Hub
European stocks have moved higher on Friday as upbeat manufacturing data from China helped offset investor concerns over prospects of a U.S.-China trade pact.
A private survey showed factory activity in China expanded at its quickest pace since February 2017. The data contrasted with the official gauge showing a contraction for the sixth consecutive month.
On the trade front, optimism over a concrete U.S.-China trade deal faded after a Bloomberg report suggested that Chinese officials are unwilling to budge on the thorniest issues and have cast doubts about reaching a comprehensive long-term trade agreement.
Investors appeared somewhat soothed by U.S. President Trump’s comments that the U.S. and China are working on a new site to sign phase one of the trade deal.
While the U.K.’s FTSE 100 Index has risen by 0.5 percent, the French CAC 40 Index and the German DAX Index are both up by 0.6 percent.
Transport and logistics services company DSV Panalpina has moved sharply higher after reporting strong third quarter results.
Novo Nordisk A/S has also advanced after the Danish pharmaceutical company posted a forecast-beating third-quarter net profit.
Pest control firm Rentokil Initial has also moved to the upside after announcing the acquisition of Florida Pest Control.
Tesco has edged higher after it pledged to remove one billion pieces of plastic packaging from products in its U.K. stores by the end of 2020.
