The European markets finished in the green on Friday, with banks and automakers among the strongest performers. Automakers were up after EU auto registrations increased in April. Credit Suisse also raised the European auto sector to ''Overweight'' from ''Benchmark.'' Banks were up after UBS upgraded the global banks sector to ''Overweight.'' The strong increase in U.S. consumer sentiment also contributed to the positive mood.
The French economy is likely to grow in the second half of this year, Finance Minister Pierre Moscovici said in an interview with RTL radio, after official data showed that the nation entered a recession in the first quarter. Moscovici said he is confident that the unemployment will drop by the end of 2013.
European banks' asset quality review and stress test should be conducted by mid-2014, before the European Central Bank takes over banking supervision, Executive Board member Yves Mersch said Friday.
"The SSM could undertake the asset quality review in the third quarter of this year until the first quarter of next year, and then in close cooperation with the EBA, conduct a stress test," Mersch said in a speech in London.
European Central Bank Executive Board member Benoit Coeure said Friday that the central bank is looking at options to improve lending to small firms, which form the backbone of the Eurozone economy.
"The ECB is today exploring options to further strengthen lending to the real economy and, in particular, to small and medium-sized enterprises," he said in a speech in Orleans, France. "But the ECB can only act within its mandate," Coeure said.
Bank of England policymaker Martin Weale said the bank's capacity to add stimulus is limited by the risk to inflation expectations.
"Failure to damp sufficiently any new shock pushing up on inflation would result in inflation expectations becoming more entrenched," he said in a speech delivered at the British-American Business Council Transatlantic Conference on Friday.
The Euro Stoxx 50 index of eurozone bluechip stocks increased by 0.39 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.16 percent.
The DAX of Germany climbed by 0.34 percent and the CAC 40 of France advanced by 0.56 percent. The FTSE 100 of the U.K. rose by 0.53 percent and the SMI of Switzerland gained 0.29 percent.
In Frankfurt, Commerzbank and Deutsche Bank advanced by 3.92 percent and 2.60 percent, respectively.
Daimler increased by 3.78 percent and Volkswagen added 4.00 percent. BMW gained 0.59 percent.
CTS Eventim climbed by 3.10 percent. Commerzbank upgraded the stock to ''Buy'' from ''Add.''
Deutsche Telekom dropped by 8.35 percent. UBS downgraded the telecom sector to ''Underweight.''
In Paris, Renault gained 3.55 percent and Peugeot climbed by 10.08 percent. Tire maker Michelin finished higher by 4.47 percent. Societe Generale increased by 2.39 percent. BNP Paribas rose 1.40 percent and Credit Agricole added 1.09 percent.
Credit Suisse cut European food producers to ''Underweight'' from ''Benchmark.'' Danone lost 1.29 percent.
In London, Royal Bank of Scotland climbed by 5.65 percent. UBS added the stock to its ''Global Top 40 Stock List.'' Lloyds Banking gained 2.94 percent, Standard Chartered rose by 2.53 percent and Barclays added 2.0 percent.
Wm Morrison Supermarkets announced a long term agreement with Ocado Group that would enable Morrisons.com to commence grocery deliveries to customers by January 2014. Morrison shares advanced by 1.31 percent and Ocado shares surged by 35.76 percent.
Intertek declined by 1.94 percent. The quality and safety services provider reported 9.9 percent growth in revenues for the four-month period ended April 30. But, margin was lower due to the impact of sharp profit decline in minerals business.
New car registrations in the European Union (EU) increased from last year in April, for the first time in more than one-and half years, data released by the European Automobile Manufacturers' Association (ACEA) showed Friday.
Sales of new passenger cars advanced 1.7 percent on an annual basis to around 1.04 million units in April, reversing the 10.2 percent fall recorded in March. The increase was the first since September 2011.
April's upturn was probably driven by the two additional working-days compared to the same month last year, the agency said.
Eurozone construction output continued its decline for the fifth month in a row in March, Eurostat reported Friday. Production in construction fell at a faster pace of 1.7 percent, following a 0.3 percent drop in February. Building construction and civil engineering slid 1.4 percent and 2.4 percent, respectively.
Consumer sentiment in the U.S. has seen a substantial improvement in the month of May, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the consumer sentiment index rising to its highest level in nearly six years.
The report showed that the preliminary reading on the consumer sentiment index for May came in at 83.7 compared to the final April reading of 76.4. With the sharp jump, the consumer sentiment index came in well above economist estimates for a reading of 78.0 and reached its highest level since July of 2007.
Led by building permits and the interest rate spread, leading economic indicators in the U.S. rose by more than anticipated in the month of April, according to a report released by the Conference Board on Friday. The Conference Board said its leading economic index rose by 0.6 percent in April following a revised 0.2 percent decrease in March.
Economists had been expecting the index to increase by a more modest 0.3 percent compared to the 0.1 percent drop originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.