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European markets are trading in green with German retail sales rising

2019-03-01 09:19 am | Resource: News | No Views : 169



 Major European stock markets opened on Friday in green ahead of key economic data. Industrial PMI data for the UK and Germany are expected to be released in the European Union during the day. Information on the unemployment rate, as well as mortgage for the continent's largest economies, is also due after the bell trading.

German retail sales rise in January 2019

German retail sales grew at a stronger-than-expected pace in January, reversing the sharp decline in the previous month, to record the biggest growth in more than two years, preliminary data from the Federal Bureau of Statistics showed on Friday.
  • Retail sales rose 3.3 percent on a monthly basis, much faster than economists' gains of 1.90 percent.
  • The latest sales growth was the biggest since October 2016, when sales rose at the same pace.
  • The December decline was adjusted to 3.1 percent from 4.30 percent.
  • On an annual basis, retail sales grew by 2.6 percent in January, exceeding economists' expectations of 1.20 percent.
  • The pace of growth was the fastest in three months. In October, sales grew by 6 percent.
  • The decline in December was adjusted to 1.6 percent from 2.10 percent.
  • Food, beverage and tobacco sales grew 2.7 per cent year-on-year, and non-food sales increased by 2.3 per cent.
  • In non-food items, sales in other retail group including books, jewelry etc. rose 4.1 percent. Sales of Internet and mail orders jumped 6.2 percent.

European Stocks Open
  • The DAX rose 0.65% shortly after the opening, led by Covestro AG O.N. Earnings rose 1.52%.
  • The CAC 40 index gained 0.52% as Vivendi rose 3.85%.
  • The FTSE 100 was 0.32% higher, led by gains from WAP PLC ORD 10P, which jumped 5.96%.

The euro traded in the red zone against the US dollar, losing 0.11% and buying 1.1361 at 9:14 CET.


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