European Stocks Close Higher

(RTTNews) - European stocks closed broadly higher on Friday with investors digesting the latest batch of economic data and earnings updates, and looking ahead to central bank policy meetings.

The Federal Reserve's policy announcement is eyed for clues about when the central bank will end its tightening cycle.

The pan European Stoxx 600 climbed 0.32%. The U.K.'s FTSE 100 advanced 0.23%, France's CAC 40 gained 0.65%, and Germany's DAX declined 0.17%. Switzerland's SMI edged up 0.05%.

Among other markets in Europe, Austria, Belgium, Denmark, Iceland, Ireland, Netherlands, Norway, Portugal, Russia, Spain and Sweden ended higher.

Finland and Poland closed higher, while Greece and Turkiye ended flat.

In economic releases, U.K. retail sales advanced 0.7% month-on-month in June, faster than the 0.1% rise in May - official data showed earlier in the day. This was also faster than economists' forecast of 0.2%.

On a yearly basis, retail sales posted a decline of 1% after a 2.3% fall in May. Economists had forecast an annual fall of 1.5%.

Separate data showed the U.K. budget deficit narrowed in June but remained the third highest for the month since records began in 1993.

In the UK market, Hargreaves Lansdown gained nearly 2%. Haleon, Ashtead Group, Rentokil Initial, Relx, Diageo, Compass Group, IHG, Halma, Centrica and Smiths Group gained 1 to 1.5%.

WPP declined more than 4%. Prudential ended nearly 3% down. Mondi, Natwest Group, BT Group, M&G, Legal & General, ABRDN, Persimmon, Lloyds Banking and Croda International lost 1 to 2.2%.

In Paris, L'Oreal, Renault, Hermes International, LVMH, Eurofins Scientific, Schneider Electric, AXA, TotalEnergies, Pernod Ricard and Essilor gained 1 to 2.5%.

Thales ended 4.7% down, and Publicis Groupe drifted down 2.4%. ArcelorMittal, Capgemini and STMicroElectronics lost 1 to 1.4%.

In the German market, Sartorius surged nearly 8%. Zalando and Merck gained about 2.8% and 2.4%, respectively.

Fresenius, Beiersdorf, Vonovia, Hannover Rueck, RWE, Qiagen, Munich RE and Adidas gained 1 to 1.3%.

SAP lost more than 4% a day after the business software maker posted cloud revenue growth below analysts' expectations.

HeidelbergCement ended 1.7% down. Puma, Porsche and Fresenius Medical Care also closed notably lower.

In the Switzerland market, Lonza Group shares plunged sharply as the company lowered its 2023 sales and earnings targets after posting mixed first half results.