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European markets close higher as Italian and French industrial data surprises


Friday, 10 July 2020 23:23 WIB

Saham Eropa


European markets closed higher Friday as data showed French and Italian industry output rebounding more strongly than expected in May.

The pan-European Stoxx 600 provisionally closed up by 0.8%, autos adding 2.3% to lead gains as all sectors except health care advanced into positive territory.

Having begun the session in the red, markets across the continent received a boost after data showed Italian industrial production jumped 42.1% in May from the previous month, as the country emerged from lockdown, outstripping the median forecast of 22.8% by analysts polled by Reuters.

French industry output climbed by 19.6% in May, surpassing economist expectations of a 15.1% rise. France only began lifting its comparatively strict lockdown measures on May 11.

Source: CNBC


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