European indices up supported by economic data

European indices rose at the beginning of trading on Friday, supported by positive economic data in the United Kingdom.

Britain’s economy grew by about 0.6% in the first three months of 2024, compared to a contraction of about 0.3% in the last quarter of 2023. The British economy entered a state of technical recession in the second half of last year.

Yesterday, the Bank of England decided to stabilize the interest rate according to analysts’ expectations for the sixth meeting in a row. However, it stressed that its restrictive policy works to reduce inflation.

The German DAX index also rose by 0.3%, recording 18,750 points, the British FTSE rose by 0.4%, at 8,413 points, and the French CAC, by 0.5%, to 8,231 points.

Mining stocks led the European Stock Exchange’s gains, rising by about 1.1%, while travel and entertainment stocks rose by 1%.