BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed higher on Friday, extending gains to a tenth successive session, amid continued optimism about corporate earnings, easing worries about U.S. inflation and hopes about global economic recovery.
The pan European Stoxx 600 gained 0.21%, hitting a fresh high in the process, and extending gains to a fourth straight week. The U.K.'s FTSE 100 climbed 0.35%, Germany's DAX advanced 0.25%, France's CAC 40 gained 0.2% and Switzerland's SMI moved up 0.28%.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Poland, Portugal, Spain and Turkey closed higher.
Ireland, Norway and Sweden edged up marginally. Netherlands closed flat and Russia ended weak.
In the UK market, Segro Plc, Polymetal International, SSE, Flutter Entertainment, Pershing Square Holdings, ITV, AstraZeneca, Land Securities, BHP Group, Rolls-Royce Holdings, M&G and Prudential gained 1.4 to 2.2%.
Defense contractor Babcock jumped 6.5% after it agreed to sell its consultancy unit Frazer-Nash for 293 million pounds ($404.5 million) in cash. Just Eat Takeaway, Aviva, Croda International, GlaxoSmithKline, Halma and United Utilities also ended notably higher.
Phoenix Group Holdings declined 2.5%. Hargreaves Lansdown, Evraz, Royal Dutch Shell and Ocado Group shed 1 to 1.7%.
Shares of Avon Protection plunged nearly 28% after the technology company cut its revenue guidance for the next two years
In the French market, Bouygues rallied nearly 3.5%. Faurecia gained nearly 3% and Unibail Rodamco gained 1.8%. Vivendi, Schneider Electric and Engie also posted strong gains.
Shares of Ipsen SA plunged 12.5% after the pharmaceutical company announced the withdrawal of the New Drug Application for palovarotene following very recent discussions with the U.S. Food and Drug Administration. The company said it plans to resubmit to the FDA upon completion of the additional data analysis.
In Germany, Adidas gained nearly 2.5% after it agreed to sell its underperforming Reebok business to Authentic Brands Group Inc. for up to 2.1 billion euros ($2.5 billion).
Thyssenkrupp surged up nearly 2%. Merck, Puma and Munich RE also closed notably higher.
Zooplus zoomed more than 40% after U.S. private equity firm Hellman & Friedman offered to buy the online retailer of pet supplies for around 3 billion euros ($3.5 billion).
Deutsche EuroShop rallied sharply after the real estate investment company returned to profit in the second quarter.
In economic releases, Eurozone trade surplus fell to a seasonally adjusted EUR 12.4 billion in June from EUR 13.8 billion in May, data published by Eurostat showed. Exports dropped 0.7% in June, while imports remained stable from the previous month.
On an unadjusted basis, the trade surplus decreased to EUR 18.1 billion from EUR 20 billion in the same period last year.
German wholesale prices grew 11.3% on a yearly basis in July, following a 10.7% rise in June, Destatis reported. The latest rise was the biggest annual rate since October 1974, when prices were up 13.2% amid the first oil crisis.
France consumer price inflation eased to 1.2% in July, as initially estimated, provisional data from the statistical office Insee showed. On a monthly basis, consumer prices rose 0.1% in July, as initially estimated.
French unemployment rate dropped marginally in the second quarter, data released by the statistical office Insee showed. The ILO jobless rate dropped to 8% in the second quarter from 8.1% in the first quarter. The rate was forecast to fall to 7.9%.
Switzerland's producer and import prices rose 3.3% year-on-year in July, data from the Federal Statistical Office showed on Friday.
The producer price index increased 2.1% annually in July and import prices accelerated 5.9%. On a monthly basis, producer and import prices increased 0.5% in the month.
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