European shares edged ahead at the opening on Friday after a more positive session overnight on Wall Street.
The pan-European Stoxx 600 index was up 0.6% in early trading with all regional bourses higher. The UK’s FTSE 100 had risen 0.57% at 0720 GMT with investors looking towards a further relaxation of Covid-19 restrictions on Monday, although the mood was tempered by an increasing number of India-variant coronavirus cases in the country.
Wall Street stocks finished well above the waterline on Thursday with technology plays back in favour, after the blue-chip index turned in its worst performance since January in the previous session.
Traders were also looking towards US retail sales later in the day.
Interactive Investor head of markets Richard Hunter said the data “will give further colour to the increasing strength of the US recovery, as fiscal stimulus and a further easing of Covid-19 restrictions improves the mood of a vitally important component of the economy”.
“In what could be a leading indicator, Airbnb yesterday showed a rebound in its numbers following further lockdown lightening with a 52% jump in bookings.”
In equity news, Netherlands-based immunology company Argenx topped the index as the company narrowed first quarter pre-tax losses.
Sage shares gained as the company said it expected annual organic revenue growth to be near the top of guidance after investment in its cloud operation prompted a decline in first half profit.
