European stocks look set to log their biggest one-day gain in a week on Friday, driven by spillover from a positive Wall Street session after upbeat U.S. economic data. U.S. stock futures were higher.
The Stoxx Europe 600 index
climbed 0.7% to 425.96 after a modest decline on Thursday. The index is flat for the week. The German DAX
jumped 0.9%, the French CAC 40
rose 0.4% and the FTSE 100 index
gained 0.7%. The pound
were both higher against the dollar.
U.S. stock futures
were up 0.3% across the board, following Thursday’s session that saw equities bounce back from deep declines to end higher, inspired by better-than-expected weekly jobless claims. President Joe Biden also announced a new U.S. COVID-19 vaccination target of 200 million shots during his first 100 days in office.
Mining and oil names were leading the gains in Europe, with shares of BP
On the data front, U.K. retail sales climbed 2.1% in February. Meanwhile, the U.K. government on Thursday voted to extend coronavirus emergency powers until September, while also approving the government’s plan to gradually ease the lockdown over the next three months.
Shares of shipping giant AP Moeller Maersk
climbed 3.6%, tracking gains for some Asian shipping companies.
Shares of Banco Santander
climbed 3% after the Spanish lender said late Thursday that its board has approved a dividend of 2.75 European cents (3.23 U.S. cents) a share to be paid in cash.
Europe also got some mergers and acquisitions news as U.K. multinational insurer Aviva
announced the sale of its Polish unit to German insurer Allianz
for €2.4 billion. Aviva shares rose 0.9% and Allianz shares gained 0.7%.