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Stock markets move higher on Friday
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UK retail sales data beat
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Record PMI indices from the US
European stock markets finished the final trading day of the week mostly higher and continued to erase losses from Tuesday and Wednesday. Most indices from the Old Continent added 0.40% or more. The French CAC 40 closed 0.68% higher while the German DAX advanced 0.44%. The British FTSE 100 was among laggards and closed flat. US equity markets continue to move higher with the exception of tech stocks - Nasdaq100 is trading slightly below the flatline at press time.
Friday was truly a busy day in terms of economic calendar. Numerous European countries released their flash PMI indices - in most cases the data topped estimates. Solid retail sales report from the UK for April (9.2% MoM vs exp 4.5% MoM) boosted sentiment as well. PMI indices from the US surprised to the upside as well, climbing to record levels. Nevertheless, PMI reports also sparked some inflation concerns.
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Create account Try a demo Download mobile app Download mobile appCryptocurrencies are under crossfire once again. BTC and other digital assets plunged as China vowed crackdown on Bitcoin mining and trading. Oil prices are gaining more than 2% while copper and silver are plunging almost 2%. GBPUSD climbed to highest levels in almost 3 years on upbeat UK data.
OIL.WTI is bouncing back after this week’s heavy sell-off. WTI prices managed to climb above $63.10 a barrel and continued to move higher. However, WTI is still trading roughly 5% below Tuesday’s highs. Source: xStation5
