European Shares Broadly Higher As Eurozone Recovery Gathers Pace

European stocks were broadly higher on Friday after a survey showed the eurozone economy‘s growth accelerated in April and hit an 11-month high.

Data from the HCOB Flash Eurozone purchasing managers’ index (PMI) survey published by S&P Global rose to 54.4 in April from 53.7 in March.

Elsewhere, U.K. retail sales contracted more than expected in March, while a measure of consumer confidence in the country improved for a third month in a row in April, separate reports showed.

The pan European STOXX 600 was marginally higher at 467.85 after declining 0.2 percent on Thursday.

The German DAX slipped 0.2 percent, while France’s CAC 40 edged up 0.2 percent and the U.K.’s FTSE 100 was up 0.4 percent.

The dollar headed for its first weekly gain in nearly two months amid bets that the Federal Reserve will increase interest rates in May.

Telecom firm Tele2 AB fell 2.7 percent after reporting a 3 percent year-over-year growth in revenue during the first quarter.

Cement maker Holcim dropped 1 percent despite increasing its full-year guidance.
Miners Anglo American and Antofagasta lost 2-3 percent as commodity prices declined on worries about slowing global growth.

Glencore was down about 1 percent after reporting Q1 production in line with expectations.

Social housing energy services provider Sureserve soared 37 percent after it agreed to a 214.1 million-pound ($266.4 million) takeover by Cap10 4NetZero Bidco Ltd.

Mercedes-Benz Group rose 1.2 percent after posting strong preliminary results for the first quarter of 2023.

SAP edged up slightly despite lowering its outlook due to the divestment of its Qualtrics unit.

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