European stocks rise amid strong earnings

European stocks rose today, Friday, to follow the path of gains made by Wall Street last night, supported by strong results for companies, while investors await estimates of gross domestic product growth in the euro area in the first quarter to assess the strength of the economies of the region.

According to “CNBC”, the European Stoxx 600 index rose 0.3%, but it is on its way to its first weekly decline in 6 weeks. The main gainers in the index were construction and raw materials stocks, which rose 1%, and utility stocks fell 0.6%.

Mercedes-Benz Group rose 0.9% after the luxury automaker raised its forecast for the adjusted annual return for sales of its pickup truck division, and said it expects to reach the upper end of its forecast for revenue in the auto division.

All eyes are on the Eurozone GDP data to be released at 09:00 GMT, which is expected to show growth slowing in the region’s economies in the first quarter to 1.4% from 1.8% a year earlier.