European stocks may open on a flat to positive note Friday, tracking the positive sentiment in Asia after a raft of upbeat economic data from the U.S and China increased optimism about the global economic recovery.
That said, cautious undertone may prevail as investors look forward to a report on advance retails sales for November and the preliminary reading of the University of Michigan's consumer sentiment index for December from across the Atlantic.
Asian stocks posted notable gains on Friday, buoyed by a strong close on Wall Street overnight after data showed that fewer Americans filed for jobless benefits and the U.S trade deficit narrowed unexpectedly in October. Positive economic data from China also reassured investors that a recovery is gathering pace.
Japan's benchmark Nikkei advanced 2.5 percent, snapping a three-day losing streak, as the yen declined against the dollar, lifting exporters. Gold prices and crude oil prices also rose as the dollar steadied.
Industrial production in China surged 19.2 percent year-over-year in November, gaining for the seventh consecutive month. That was slightly better than analyst expectations for an 18.9 percent annual increase after the 16.1 percent gain in October.
Other data released Friday showed the Chinese economy has also tentatively shaken off a bout of profit-eating deflation as the consumer price index turned positive in November after nine straight months of declines.
On Wall Street, stocks advanced by solid margins on Thursday, as traders looked to the positives in jobs report, which included some calming indicators regarding the state of the battered labor market. A better-than-expected exports data too contributed to the positive sentiment. All the major averages closed in positive territory, although well off their best levels of the day. The Dow rose by 0.67%, the Nasdaq by 0.33% and the S&P 500 by 0.58%.
In corporate news, Germany's eight banks and three insurers have agreed to impose self-regulation on remuneration systems, Deutsche Bank AG's Chief Executive Officer Josef Ackermann reportedly said.
Drug maker Gilead Sciences, Inc. said the Anti-Infective Drugs Advisory Committee of the U.S. Food and Drug Administration has recommended that aztreonam for inhalation solution be approved for treating Pseudomonas aeruginosa infections in patients with cystic fibrosis.
Pharmaceutical company AstraZeneca Plc on Thursday revealed positive data from a Phase III Confirm study of postmenopausal women with hormone receptor-positive advanced breast cancer.
The European markets rose for the first time in four days on Thursday, as banking stocks rebounded from recent losses on concern about the debt problems at Dubai World and economic woes of Greece and Spain.
The Bank of England left its key interest rate unchanged as expected for the ninth month in a row and maintained the size of its quantitative easing measures at GBP 200 billion in an attempt to help the fragile economy out of a long recession.
The FTSEurofirst 300 index of pan-European blue chips closed 1.04% higher, while the narrower DJ Stoxx 50 index rose 1.08%. Around Europe, the U.K.'s FTSE 100 index rose 0.78%, France's CAC 40 index advanced 1.09% and Germany's DAX index added 1.08%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.