Europe opens higher amid data, recovery hopes

Friday, 26. March 2021 09:00

European equities opened higher on Friday as economic recovery from the coronavirus pandemic and ongoing vaccination efforts remained in focus. According to the Office for National Statistics, retail sales in the United Kingdom climbed 2.1% in February. Investors were still awaiting the Ifo's latest business climate index for Germany.

Meanwhile, oil prices continued to rise as efforts to unblock the Suez Canal have proven unsuccessful so far.

The DAX was up 0.08% at the open in Frankfurt as Covestro leaped 2%. The CAC 40 rose 0.58% with ArcelorMittal leading the gains as its shares jumped 2%. The FTSE 100 added 0.12%; engineering company Smiths Group was the strongest performer in London.

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Author:
Breaking the News / JC