European Shares Edge Higher On Solid German Factory Orders Data
(RTTNews) - European stocks traded higher for a fourth consecutive session on Friday after data showed Germany's factory orders grew more than expected in October on robust domestic demand.
Factory orders logged a monthly growth of 1.5 percent, Destatis said. Although the pace of growth softened from the revised 2.0 percent rise posted in September, it was much faster than economists' forecast of 0.3 percent. On a yearly basis, factory orders dropped 0.7 percent, following a 3.4 percent decrease in September.
Investors also awaited key U.S. inflation data later in the day that could help shape the Federal Reserve's interest-rate decision next week.
The pan European Stoxx 600 rose 0.3 percent to 580.52 after gaining half a percent on Thursday, supported by a rebound for major banks and automakers.
The German DAX gained 0.6 percent, France's CAC 40 edged up by 0.3 percent and the U.K.'s FTSE 100 was up 0.2 percent.
Airbus shares rose about 1 percent in Paris after an update that the company delivered 72 aircraft in November.
Ocado jumped more than 9 percent. The tech platform and online grocer will receive a one-time cash payment of $350 million from Kroger Co. after the U.S. grocer decided to close three fulfilment centers and cancel plans for the Charlotte, North Carolina site.
Zurich-domiciled global reinsurer Swiss Re slumped 6 percent after setting its targets for 2026.
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