European stocks rose on Friday to hover near a nine-month high, as investors cheered signs of slowing U.S. inflation and better-than-expected trade data from China. <\/p>\n
Closer home, the German economy<\/span> likely stagnated in the fourth quarter of last year with GDP rising 1.9 percent over the full-year 2022, official data showed. <\/p>\n Separate data showed the British economy unexpectedly grew in November.<\/p>\n GDP grew 0.1 percent in the month as food and drink businesses benefited from the FIFA World Cup.<\/p>\n The pan-European STOXX 600 climbed 0.6 percent to 452.72, after having risen 0.6 percent to its highest level since April 2022 on Thursday. <\/p>\n The German DAX inched up 0.2 percent, while France’s CAC 40 index and the U.K.’s FTSE 100 were up around 0.6 percent each.<\/p>\n Swiss building materials firm Holcim Group was little changed after saying its Swiss team GO CIRCULAR is ready to set sail in The Ocean Race for its first round-the-world regatta.<\/p>\n Healthcare stocks traded higher, with Roche Holding and Novo Nordisk gaining 1-2 percent. <\/p>\n Italy’s Enel rose about 1 percent. The CEO of the Italian power utility was quoted as saying that the company could secure up to 5 billion euros ($5.4 billion) of EU investment funding. <\/p>\n Online gambling company Kindred Group plunged 17 percent after a profit warning. U.K. banks Standard Chartered and HSBC Holdings rallied 1-2 percent.<\/p>\n Rational AG, a German manufacturer and retailer of combi steamers and ovens, jumped 2.6 percent. The company reported that its preliminary sales revenues for fiscal 2022 increased 31 percent year-on-year.<\/p>\n United Internet rallied 3.5 percent. Reuters reported that the company’s web hosting subsidiary Ionos wants to begin the process for an initial public offering (IPO) this month. <\/p>\n
Miners extended recent gains, with Antofagasta and Glencore rising about 2 percent each on optimism around China’s reopening. <\/p>\n