Credit: Shutterstock photoThe broad-based major European indices closed higher in Friday's trading session, as health care related stocks, mining companies, and automotive equities boosted the markets.
In economic news, In April 2017, compared with March 2017, industrial producer prices remained stable in both the euro area (EA19) and the EU28, according to Eurostat, the statistical office of the European Union. In March, prices fell 0.3% in the euro area, and 0.2% in the EU28. In Apri, compared with April of 2016, industrial producer prices rose 4.3% in the euro area, and 4.8% in the EU28.
Industrial producer prices in total industry remained stable in the euro area in April, compared with March, which was attributed to rises of 0.3% for non-durable consumer goods, of 0.2% for intermediate goods, and of 0.1% for both capital goods and durable consumer goods, while prices fell by 0.6% in the energy sector.
Prices in total industry, excluding energy, gained 0.2%. Prices in the EU28 remained stable due to rises of 0.4% for non-durable consumer goods, of 0.3% for durable consumer goods, of 0.2% for intermediate goods, and of 0.1% for capital goods, while prices fell by 0.4% in the energy sector. Prices in total industry excluding energy rose 0.2%.
The highest increases in industrial producer prices were reported in Bulgaria (+1.3%), Greece (+0.6%), Latvia and the U.K. (both +0.5%), and the largest decreases in Ireland (-0.9%), Sweden (-0.7%), France, and Slovakia (both -0.6%).
In equities, mining companies and health care stocks helped nudge the FTSE into positive territory. Mining firms Fresnillo and Randgold Resources rose 3.8% and 3.3% each, while medical device maker ConvaTec, private healthcare provider Mediclinic, and biotech firm Shire, climbed 3.4%, 1.8%, and 1.4% respectively.
In Frankfurt, pharmaceutical firm Bayer and technology company Siemens led the DAX sharply higher, rising 2.1% each, followed by gas and engineering company Linde, which climbed 2%, and stock market operator Deutsche Boerse, which climbed 2% and chemical company BASF, which increased 1.9% each. Airline operator Deutsche Lufthansa, and construction materials supplier Henkel closed 1.8% and 1.6% higher respectively.
And in Paris, auto parts supplier Valeo, and tire maker Michelin buoyed the the CAC, rising 2.8% and 2.1% each, followed by real estate company Unibail Rodamco, and media company Vivendi, which gained 1.8% and 1.2%. Pharmaceutical firm Sanofi, and industrial gasses company Air Liquide were up 1.2% and 1.1%.
The FTSE edged 0.05% higher, the DAX climbed 1.25%, and the CAC-40 rose 0.47%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
