Europe midday: Shares pare gains on EZ construction data
By Frank Prenesti
Date: Friday 18 Jul 2025
(Sharecast News) - European shares were higher on Friday, driven by record highs by US indices overnight, although morning session gains were pared slightly after the release of eurozone construction data.
The pan-regional Stoxx 600 index was up 0.12% at 547.66 with all major bourses higher.
Construction output across the eurozone slumped in May following the biggest monthly surge in four years in April, according to data from Eurostat on Friday.
Seasonally adjusted production in construction fell by 1.7% in May, with building construction down 1.3%, civil engineering production down 0.7% and specialised construction activities dropping 1.7%.
US shares were boosted by positive corporate earnings, with the S&P 500 closing at an all-time high, while the Nasdaq Composite also hitting a record closing level.
Sentiment was also boosted by a jump in US retail sales in June to 0.6% compared with expectations of a 0.1% increase.
"The broad-based rebound showed little evidence that tariffs are damaging the average American's spending power. That may soften the case for rate cuts by the Fed," said Hargreaves Lansdown analyst Derren Nathan.
But that's not outshining signs of economic strength and robust corporate health, with US stock futures pointing to further gains at the open."
In Germany wholesale price deflation picked up to its steepest rate in nine months in June, according to the Federal Statistical Office on Friday.
The producer price index fell at a year-on-year clip of 1.3% last month, following a 1.2% drop in May, Destatis reported.
In equity news, shares in Swedish defence giant Saab took off as it reported stronger-than-expected second operating income of 1.98 billion Swedish krona ($200 million) this morning.
BP said on Friday that it has agreed to sell its US onshore wind business, BP Wind Energy, to LS Power, a development, investment and operating company focused on the North American power and energy infrastructure sector.
Vestas Wind Systems gained also surged after JP Morgan upgraded the Danish wind turbine maker to "overweight" from "neutral".
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN