European stocks edged slightly higher on Friday after a string of downbeat performances, as encouraging euro zone retail sales lifted spirits.
Easing concerns about the Greek debt crisis also helped buyers dip their toes into equities. Officials insisted that it would be "appropriate" for Greece to delay bond payments, and that a proper restructuring is not necessary. The Euro Stoxx 50 index of eurozone bluechip stocks unofficially rose 0.38 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, was down 0.02 percent as London shares lagged.
Unofficially around Europe, the German DAX added 0.29 percent, the French CAC 40 picked up 0.22 percent and the UK's FTSE 100 gained 0.16 percent percent. Switzerland's SMI fell 0.61, extended a downtrend.
Luxury stocks were in play after a French business daily said PPR was considering making takeover offers for Prada, Hugo Boss and Burberry.
However, PPR later denied interest in Prada, and the Wall Street Journal said Burberry and Hugo were unlikely targets.
Hugo Boss added 2 percent, and Burberry was up fractionally.
Diversified utility E.ON added 3.8 percent and peer RWE gained 2.7 percent. UBS added E.ON to "Key Calls List." Meanwhile, Credit Suisse reduced its price targets for both stocks.
HSBC removed Siemens from 'Europe Super Ten Portfolio List' while adding K+S to the list. Still, Siemens is advanced 0.4 percent.
Nivea maker Beiersdorf added 0.7 percent. JPMorgan raised its rating on the stock to "Neutral" from "Underweight."
Infineon Tech was up 1.7 percent after saying it targets annual sales growth of about 10 percent on a long term basis, with an anticipated revenue growth of 20 percent for fiscal 2011 from last year.
Goldman lifted Sky Deutschland AG to conviction buy from neutral. Shares rose 3.7 percent.
Lenders Credit Agricole, Societe Generale and BNP Paribas were moderately higher in Paris. Credit Agricole reportedly received a broker upgrade.
Air Liquide rose 0.87 percent. JPMorgan reduced its rating on the stock to "Neutral" from "Overweight" and cut the price target to 112 euros from 104.80 euros.
Goldman reduced its price target on media firm Vivendi to 22.60 euros from 23.30 euros. The stock was little changed.
Eutelsat Communications rose 2.2 percent after Goldman upgraded the company to conviction buy from neutral.
Michelin was higher percent after Exane BNP Paribas lifted the stock to outperform.
Oil company Total SA told Reuters it is selling its small stake in the Norwegian Gassled pipeline for around $900 million. Total stock was up 0.75 at last check.
In London, insurer Resolution Limited rose 3.25 after announcing a share buyback.
Tesco shed 1.2 percent and Sainsbury is lost 0.77 percent. Retail sales in the U.K. declined in May after a temporary boost from spending during Easter holidays and Royal Wedding played out, the British Retail Consortium said.
Credit Suisse lost 0.82 percent in Zurich. JPMorgan reduced its price target on the stock to 47 Swiss francs from 50 Swiss francs.
Elsewhere, supermarket operator Ahold NV dropped 0.95 percent in Amsterdam after the company said inflation was eating away margins in its Dutch business.
Renewable Energy Corp. picked up almost 6 percent Oslo. Morgan Stanley upgraded the company to overweight from equal-weight.
Fiat SpA CEO Sergio Marchionne told Reuters the Italian carmaker is in no hurry to buy full control of Chrysler from the United Auto Workers VEBA trust fund. Over the weekend, Fiat said it has made an offer to the Canadian government for its small stake. Fiat shares were down 2.8 percent in Milan.
Telefonica was up 0.5 percent in Madrid after HSBC removed the stock from its "Europe Super Ten Portfolio List."
Eurozone retail sales rebounded stronger than expected in April, erasing the previous month's decline as strong consumer spending during the Easter break boosted sales.
Retail sales grew 0.9 percent month-on-month in April, offsetting a revised 0.9 percent drop in March, data from Eurostat showed Tuesday.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.