Europe close: Stocks rise on better-than-expected US data
By Alexander Bueso
Date: Thursday 17 Jul 2025
(Sharecast News) - European stocks rose for the first time in five days on Thursday, as investors picked up bargains following recent selling.
Triggering the buying was the release of a better-than-expected rise of 0.6% month-on-month for retail sales in the US during the month of June (consensus: 0.1%).
"Who needs tariff worries when Americans keep flashing the cash? A good retail sales print has been enough to put stock markets back on the front foot, as investors are encouraged to forget the Powell drama of 24 hours ago," said IG chief market analyst Chris Beauchamp.
"Jobless claims were also better than expected, providing a fresh reason to rush back into US names. The news lifted European markets as well, though reports of possible tariff retaliation remind us that the issue hasn't gone away."
The pan-European Stoxx 600 was 0.96% higher at 547.03, having fallen by roughly 2% over the preceding four sessions.
Markets had fallen the previous session on the back of speculation that Donald Trump was planning to oust the head of the Federal Reserve, Jerome Powell, for not cutting interest rates sooner.
Trump later denied reports, saying a move was "highly unlikely" - though not everyone was convinced by a president known for his controversial, erratic decision-making.
Market movers
London's Ocado Group was a standout performer, surging 18% after the release of its first-half results. The retail tech and logistics company said its full-year outlook remains on track after swinging to a big profit in the first half, in which revenues rose at a double-digit rate.
A number of Swedish blue chips were rising strongly after updates: vegetable oils group AAK jumped 9% after reporting a second-quarter operating profit comfortably ahead of market forecasts; auto giant Volvo was trading 8% higher despite swinging to a net loss in the second quarter due to restructuring and impairment charges, as adjusted earnings came in ahead of forecasts; while shares in telecom Tele2 rose 8% after the firm upgraded its full-year profit outlook due to cost efficiencies.
Heading the other way was British budget airline EasyJet which dropped 5% after warning that profits would be impacted by recent French industrial action, while payments firm Wise sank 11% after revealing that its cross-border take rate fell in its first quarter.
Novartis fell 2% in Zurich despite the Swiss pharma giant launching a share buyback of up to $10bn and lifting its full-year earnings target.
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