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European Stocks Close Higher Friday; German Q1 GDP Increases, Semiconductor Shares Gain

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European stock markets closed higher Friday as the Stoxx Europe 600 rose 0.7%, Germany's DAX 40 climbed 1.2%, the FTSE 100 gained 0.2%, and France's CAC 40 and the Swiss Market Index each advanced 0.4%.

Semiconductor stocks rallied on the continent as Infineon rose 8% in Frankfurt, STMicroelectronics gained 4.7% in Paris, and ASML increased 4.5% in Amsterdam.

In Germany, gross domestic product expanded 0.3% in Q1 from the previous quarter, according to Destatis, the Federal Statistical Office.

"Following the slight growth at the end of 2025, the German economy also got off to a positive start in 2026," Destatis President Ruth Brand said in a statement. "Exports, in particular, rose significantly at the beginning of the year and supported economic output."

In corporate news, Novo Nordisk received the European Medicines Agency's recommendation for the extension of Wegovy's marketing authorization to include its oral formulation for weight management. Additionally, Novo Nordisk's Ozempic and Eli Lilly's Mounjaro are being linked to better cancer outcomes in four new studies, the Wall Street Journal reported.

Novo Nordisk shares rose 1.7% in Copenhagen.

TotalEnergies is considering selling a 50% stake in a portfolio of European renewable energy assets in a deal that could be worth several hundred million euros, Bloomberg reported.

Shares of the French oil and gas company dropped 1.9% in Paris.

AstraZeneca's Etcamah received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use to treat ER-positive, HER2-negative locally advanced or metastatic breast cancer in patients with ESR1 gene mutations.

Shares of the British pharmaceutical company fell 0.8% in London.

UBS said Thursday it expects the voluntary review of historic World War II operations at Credit Suisse to conclude by the end of the year.

Shares of the Swiss bank eased 0.1% in Zurich.

Manchester United signed men's first-team head coach Michael Carrick to a new contract running through 2028.

Shares of the English soccer club rose 2% in London.

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FTSE 100 Closes Week Upbeat; AstraZeneca Sees Oncology Approval Progress

London's FTSE 100 ended the trading week 0.22% in the green as investors assessed the latest retail sales and borrowing data.UK retail sales fell 1.3% month over month in April, following a revised 0.6% rise in March, data from the Office for National Statistics showed. The decline was larger than the 0.6% fall expected by analysts."April 2026 will be remembered as the first month that the impact of the Middle East conflict first hit British consumers. We already saw consumer sentiment fall at its fastest rate for four years, and we now have evidence that this translated into shoppers buying less in stores," PwC UK head of retail Jacqueline Windsor said. "Overall, while retailers will be disappointed, April's performance was somewhat expected after a better than expected March, and against strong comparatives from this time last year."Also from the ONS, the country's borrowing reached 24.3 billion pounds sterling in April, 3.4 billion pounds more than the forecast by the Office for Budget Responsibility.In other economic news, GfK's consumer confidence index improved by two points to -23 in May, with four measures rising and one down."Consumers appear to be in a more generous mood in May, with a two-point increase in the headline score and improving perceptions of both personal finances and the wider economy," GfK consumer insights director Neil Bellamy said. "Inflation may have fallen in April, but with price pressures expected to rise again and continued uncertainty around interest rates, it's unlikely May marks the beginning of a sustained improvement."On the corporate front, AstraZeneca (AZN.L) was down 0.64% on Friday's close as its cancer drugs were recommended for approval in the European Union. The first recommendation involved the drugmaker's camizestrant in combination with a cyclin-dependent kinase 4/6 inhibitor for adults with breast cancer, while the second concerns Enhertu, co-developed with Daiichi Sankyo, for patients with previously treated HER2-positive metastatic solid tumors.AstraZeneca and Daiichi Sankyo's Datroway also secured approval from the US Food and Drug Administration for the treatment of adult patients with unresectable or metastatic triple-negative breast cancer who are not PD-1/PD-L1 inhibitor candidates.

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Asia Markets

European Equities Traded in the US as American Depositary Receipts Edge Higher in Friday Trading

European equities traded in the US as American depositary receipts were trending slightly higher late Friday morning, edging up 0.11% to 1,880.31 on the S&P Europe Select ADR Index, which has surged 3% for the week so far.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which climbed 8.1% and 2.7% respectively. They were followed by furniture maker Natuzzi (NTZ) and telecommunications company Ericsson (ERIC), which increased 3.1% and 1.9% respectively.The decliners from continental Europe were led by oil and gas company Eni (E) and lender Banco Santander (SAN), which dropped 2.3% and 1.6% respectively. They were followed by biopharmaceutical company Grifols (GRFS) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which lost 1.4% and 0.9% respectively.The gainers from the UK were led by biopharmaceutical companies Akari Therapeutics (AKTX) and Mereo BioPharma (MREO), which advanced 73% and 6.7% respectively. They were followed by biotech firm Autolus Therapeutics (AUTL) and biopharmaceutical company Bicycle Therapeutics (BCYC), which were up 3.6% and 1.1% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and biotech firm Trinity Biotech (TRIB), which fell 3.1% and 2.4% respectively. They were followed by insurance company Prudential (PUK) and pharmaceutical company Silence Therapeutics (SLN), which were down 1.7% and 0.2% respectively.

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Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Lower in Friday Trading

Asian equities traded in the US as American depositary receipts were lower Friday morning, declining 0.60% to 2,850.63 on the S&P Asia 50 ADR Index, which was little changed for the week so far.From North Asia, the gainers were led by semiconductor company ASE Technology (ASX) and fintech firm High Templar Tech (HTT), which rose 5.8% and 3.1% respectively. They were followed by semiconductor firm Himax Technologies (HIMX) and LG Display (LPL), which were up 2.6% and 2.3% respectively.The decliners from North Asia were led by UP Fintech (TIGR) and internet and data center services provider VNET Group (VNET), which dropped 25% and 7.4% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and fintech firm Qfin (QFIN), which fell 7.3% and 6.5% respectively.From South Asia, the gainers were led by digital infrastructure holding firm Trident Digital Tech (TDTH) and computer hardware maker Canaan (CAN), which rose 9.9% and 3.7% respectively. They were followed by IT firms Wipro (WIT) and Sify Technologies (SIFY), which added 2.3% and 1.7% respectively.The lone decliner from South Asia was telecommunications operator Telekomunikasi Indonesia (TLK), which fell 3.8%.

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