Europe close: Stocks push higher for third week straight
By Benjamin Chiou
Date: Friday 25 Apr 2025
(Sharecast News) - European stock markets pushed higher for the fourth straight day on signs of a potential easing of trade tensions between the US and China.
The Stoxx 600 finished 0.35% higher at 520.45, closing at its highest since 3 April after a 2.65% gain for the week - its third positive week in a row.
"Most global stock indices finished the week on a high amid hopes of a tariff climb down by the US and China," said Axel Rudolph, senior technical analyst at IG.
Helping recent gains were rumours that China is considering suspending its 125% retaliatory tariffs on select US imports, raising hopes that the two nations could come to a deal, while US-Japan trade talks were said to be promising.
However, reports from Xinhua News Agency early on Friday suggested that China was preparing contingency plans - such as monetary and policy tools to boost the economy amid the deepening trade war - as Beijing continues to dismiss US reports that the two sides were closing in on a trade deal.
European gains were also limited after a mixed start on Wall Street following comments from Donald Trump who told Time Magazine that he would consider it a "total victory" if America had elevated tariffs of 20-50% on foreign countries a year from now.
Trump also denied that rising yields had forced him to put a 90-day pause on the majority of his higher tariff rates and stated that announcements regarding many trade deals would be coming "over the next three to four weeks".
The UK was the only European region to release major economic data on Friday: UK retail sales grew faster than expected last month, up 0.4%, the Office for National Statistics reported, against expectations of a 0.4% fall; while the GfK Consumer Confidence Barometer fell four points to -23, hitting its lowest level since November 2023.
Market movers
Shares in Kemira slumped after the Finnish chemicals specialist posted first-quarter earnings which were below expectations and signalled weaker demand in its end markets.
French engineering group Alten was also hammered as first quarter revenues fell on weakness in Europe.
Shares in Accor were rising strongly in Paris after the French hotel group reported solid increase in first-quarter revenues and reaffirmed its mid-term growth outlook despite a "volatile" environment.
French jet engine maker Safran gained after reporting a stronger-than-expected rise in first-quarter revenue and said it was confident of hitting full-year targets, excluding any tariff impact.
Shares in London-listed Marks & Spencer fell after the retailer said it would suspend taking online orders in the UK and Ireland due to a recent cyber incident.
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