UK retail sales data showed a 0.5% month-on-month increase in April, more than expected, as consumers remained surprisingly resilient amid cost of living pressure.
Investor sentiment also improved after a Reuters report said negotiators were close to a deal that could raise the government’s debt ceiling to $31.4 trillion for two years, with only few steps separating them from a final agreement.
But any deal must go through the Republican-controlled House of Representatives and the Democratic-controlled Senate, with the June 1 deadline approaching.
However, general sentiment remains weak after data showed on Thursday that the German economy stagnated, after gross domestic product contracted in the first three months of 2023.
market performance
The pan-European Stoxx 600 index rose 0.4% at 0707 GMT, after falling to an eight-week low at the close on Thursday.
Mining stocks also rose 2.6%, following the path of rising metal prices with improving global sentiment, following progress in US debt ceiling negotiations, and tech stocks continued their recent run. winning streak.
Among mining companies, Rio Tinto rose 3.6% after Morgan Stanley upgraded the stock.
In contrast, the share of French company “Casino” for highly indebted supermarkets fell 9% as it resumed operations after its suspension earlier this week.
Prosepien Sat 1 rose 0.2% after the German media group confirmed its forecast for the full year.
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