European Stocks Higher; Earnings and French GDP Data Help

European Stocks Higher; Earnings and French GDP Data Help

© Reuters.

By Peter Nurse 

Investing.com - European stock markets edged higher Friday, helped by further evidence that the region is recovering from the pandemic-influenced slump, while the first-quarter earnings season also continues. 

At 3:50 AM ET (0850 GMT), the in Germany traded 0.6% higher, the in France rose 0.2%, and the U.K.'s climbed 0.3%.

Global stock markets have been pushed to record levels of late by signs of a broad economic recovery, helped by vast amounts of fiscal stimulus and ultra-easy monetary policies.

More evidence of this recovery came from France, as the Eurozone's second-biggest grew 0.4% in the first three months of the year from the fourth quarter, when it had shrunk 1.4%.

The news was less impressive in Spain, as its contracted 0.5% in the first quarter, down 4.3% on the year, but this still represented an improvement on the 8.9% annual drop the previous quarter. Germany's GDP fell even more sharply, by 1.7%, rather than the 1.5% expected.

Eurozone data are due at 5 AM ET (0900 GMT), and the bloc's economy is forecast to have shrunk 2% in the first quarter versus a 4.9% fall in the final