European Markets Close Higher

(RTTNews) - The major European markets closed slightly higher on Friday, supported by data showing stronger-than-expected jobs growth in the U.S., and an upward revision in eurozone first-quarter GDP.

Weak industrial production data from Germany and France, and persisting concerns about U.S. tariffs limited markets' upside.

Stronger-than-expected US May jobs report helped ease worries about a potential downturn in the world's largest economy.

The pan European Stoxx 600 climbed 0.32%. The U.K.'s FTSE 100 gained 0.3% and France's CAC 40 ended 0.19% up, while Germany's DAX edged down 0.08%. Switzerland's SMI ended with a gain of 0.39%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Greece, Iceland, Ireland, Netherlands, Norway, Portugal, Spain, Sweden and Turkiye closed higher.

Finland, Poland and Russia ended weak.

In the UK market, Standard Chartered, 3i Group, B&M European Value Retail and Vistry Group gained 2 to 3%.

Hiscox, Barclays Group, Aviva, J Sainsbury, Barratt Redrow, The Sage Group, Natwest Group, SSE, Shell, Hikma Pharmaceuticals and Fresnillo also closed notably higher.

HSBC Holdings found some support. The lender has announced that Sir Mark Tucker will step down as Chairman of the Board of Directors and member of the Board on 30 September 2025.

Anglo American Plc, Endeavour Mining, Antofagasta, BAE Systems and Airtel Africa lost 2 to 3.4%. Glencore, Segro, Frasers Group, Pearson and Diageo closed lower by 1 to 1.7%.

In the German market, Hannover Rueck climbed about 1.7%. Deutsche Post, Deutsche Boerse, Beiersdorf, RWE, Daimler Truck Holding and Brenntag gained 0.7 to 1.3%.

Rheinmetall closed lower by about 4.4%. Volkswagen, Porsche, Zalando and Symrise lost 1 to 1.7%.

In the French market, Eurofins Scientific gained about 2.5%. Capgemini climbed 2%, while Legrand, Essilor, Sanofi, Stellantis, TotalEnergies, BNP Paribas and Societe Generale gained 0.8 to 1.2%.

Thales ended more than 4% down. Dassault Systemes closed lower by about 1.25%.

Kering, STMicroElectronics, Orange, ArcelorMittal, Hermes International and Engie ended down 0.8 to 1%.

In economic news, the euro area economic growth doubled in the first quarter on household spending, investment and exports, official data revealed on Friday.

Gross domestic product logged a quarterly growth of 0.6% in the first quarter, which was faster than the initial estimate of 0.3%, Eurostat said. This followed a 0.3% rise in the fourth quarter of 2024. On a yearly basis, economic growth improved to 1.5% from 1.2%. The first quarter rate was revised up from 1.2%.

Eurozone retail sales grew only marginally in April, up just 0.1%, after a 0.4% increase in March. Economists had forecast a 0.2% rise.

UK house prices dropped 0.4% month-on-month in May, in contrast to the 0.3% increase in April, data from the mortgage lender Halifax revealed. House prices Prices were expected to grow 0.4%.

On a yearly basis, house price inflation softened to 2.5% in May from 3.2% in the previous month.

Data from Destatis showed German industrial production declined 1.4% month-on-month in April, in contrast to the 2.3% increase in March. This was the biggest fall since December, when production posted a similar decline. Production was forecast to drop 0.9%.

Another data showed that Germany's trade surplus declined in April as exports to the US logged a double-digit decline amid a notable growth in imports.

German exports fell 1.7% month-on-month in April, while imports grew 3.9%. As a result, the trade surplus decreased to EUR 14.6 billion from EUR 21.3 billion in the previous month.

Data from statistical office INSEE showed industrial production in France unexpectedly declined by 1.4% month-over-month in April 2025, after a downwardly revised 1% gain in the previous month. Production was expected to rise by 0.3% in April.

Meanwhile, France's trade deficit widened to about €8 billion in April 2025 from an upwardly revised €6.3 billion in March. Exports dropped 5.9% month-over-month to €49.3 billion, while imports declined at a slower pace of 2.4% to €57.2 billion.