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European stocks rise amid strong EU economic data
European stock indices rose on Friday, May 23, as better-than-expected regional economic data improved market sentiment.
Germany's DAX index gained 0.6%, France's CAC 40 rose 0.1%, while the UK's FTSE 100 climbed 0.4%.
Germany's economy grew 0.4% year-on-year in the first quarter, exceeding forecasts of a 0.2% increase. In the final quarter of 2024, it contracted by 0.2%.
Meanwhile, UK retail sales rose 1.2% month-on-month in April, beating March projections for a 0.3% increase.
European stocks are up 18% since mid-April, nearing their all-time highs. British investment platform AJ Bell's shares rose sharply due to better-than-expected results for the third quarter. The company reported 6% higher earnings per share.
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