European Shares Mixed Ahead Of Key Data

European stocks were narrowly mixed on Friday, as investors awaited Eurozone inflation data and the all-important U.S. jobs data later in the day for directional cues.

U.K. stocks outperformed as resource stocks gained ground amid optimism surrounding China’s reopening and expectations of more stimulus to support domestic demand.

The pan European STOXX 600 was marginally higher at 439.42 after closing 0.2 percent lower on Thursday.

The German DAX dipped 0.2 percent and France’s CAC 40 was little changed while the U.K.’s FTSE 100 was up 0.2 percent.

Miners Anglo American, Antofagasta and Glencore rose 1-2 percent on hopes for normalization in Chinese economic activity after authorities said that the first wave of infections has hit a peak in cities including Beijing and Tianjin.

Oil & gas firm Shell gained 1 percent after saying that it expects around $2 billion additional tax hit on its fourth quarter of 2022.

Frasers Group shares fell 1.3 percent. The retail, sport and intellectual property group issued an update regarding its investment in German luxury fashion brand Hugo Boss AG.

Clarkson, a shipping services provider, jumped 7 percent as it reported strong trading throughout the final quarter, particularly from the broking division.

The company said it now expects fiscal 2022 results to be ahead of current market expectations.

Essentra, a provider of essential components and solutions, plunged 8 percent after its fourth-quarter continuing business revenue declined around 3 percent from last year, on a like-for-like or LFL trading day adjusted basis.

Roche Holding advanced 1.5 percent. Genentech, a member of the Swiss drug major, announced that the U.S. Food and Drug Administration has granted priority review to its bispecific antibody glofitamab for people with relapsed or refractory large B-Cell lymphoma.

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