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Hit fresh record highs after Tehran and Washington said the Strait of Hormuz would reopen as part of peace negotiations.
Germany's monthly factory orders gained 1.9% in May, following the revised 3.2% drop in April, according to preliminary data from the country's Federal Statistical Office published Monday.Analysts expected a 1.1% increase for the month.On a yearly basis, new orders in manufacturing were up 6.2%, against the revised 2.1% growth earlier.
The euro area's household saving rate remained unchanged at 14.3% in the first quarter compared with the prior three-month period, Eurostat data showed Friday.Meanwhile, the business investment rate in the eurozone rose to 22.2% from 21.7%.
The European Union's current account surplus grew to 113.4 billion euros in the first quarter of 2026 from 99.2 billion euros in the fourth quarter of 2025, Eurostat data showed Friday.In the first quarter of 2025, the surplus was 104.9 billion euros.
Private sector output in the euro area saw a stabilization in June as inflationary pressures eased and growth in manufacturing offset a slower decrease in the services sector, after two months of decline.The seasonally adjusted S&P Global Eurozone Composite PMI Output Index rose to 50 in June from the previous month's 48.5 and the flash estimate of 49.5, final data from S&P Global showed Friday. The latest reading marks a three-month high and the first time the index has moved out of the contraction zone since March.On the services side, the PMI reached its highest level in three months at 49.4, against the prior 47.7 and the initial reading of 48.9, indicating an overall "marginal" rate of decline in business activity among service providers.Italy, Spain and Ireland logged an increase in overall business activity in June, while the downturn in Germany and France, the bloc's two largest economies, eased from the prior month. The rest of the euro area, meanwhile, achieved stability despite seeing a reduction in demand and new business volumes."A key drag on economic growth since the outbreak of the war in the Middle East has been the subduing of demand from consumers due to the energy price spike, but these inflationary pressures have shown signs of cooling markedly in June. Input cost inflation in the service sector fell in June to the greatest extent since data were first available in 1998, barring only that seen in the COVID-19 lockdowns of early 2020," S&P Global Market Intelligence Chief Business Economist Chris Williamson said. "This has helped support a revival of growth of services activity in some of the sectors which had been hardest hit by the war, notably leisure and tourism."Business confidence further improved across the bloc in June, reaching a four-month high, with companies' growth outlook over the next 12 months at its most optimistic since the outbreak of the war.
Sentiment in the German automotive industry deteriorated in June, as companies evaluated their current business conditions as "considerably worse."The business climate indicator declined to -21.4 points from 20.7 points in May, the ifo Institute said Friday.Conversely, the sector is "significantly less pessimistic" regarding the upcoming months. ifo industry expert Anita Wölfl noted that the industry is supported by Germany and other European countries, with electromobility still viewed as a growth driver in the continent's largest economy.
A survey conducted by S&P Global showed that the majority of European sectors recorded an expansion in business activity in June, marking the greatest number of segments seeing growth since February.According to the S&P Global Europe Sector PMI released Friday, 12 of the 19 monitored sectors booked an increase in output, compared with seven in the previous month.The software and services sector saw the sharpest increase in business activity, logging its strongest performance since January 2026. On the other hand, the transportation sector recorded the weakest performance after seeing the fastest decline in output since October 2022.
Germany's private sector remained in contraction territory for the third straight month in June, as a sustained yet slower pace of decline in service sector activity overshadowed an increase in manufacturing output.The final S&P Global Germany Composite PMI Output Index ticked up to 49.5 in June from 48.8 earlier, S&P Global said Friday. The final reading was above the flash estimate of 48 but slightly below the 50-point neutral mark.For the service sector, the final PMI clocked in at 48.6, compared with the initial estimate of 46.8 and the previous month's 48.1.
Italy's seasonally adjusted retail sales rose 0.2% in May, after zero growth in April, according to data from statistics agency Istat published Friday.Analysts expected a 0.2% gain for the month.On a yearly basis, retail sales were 2.2% higher, against the revised 1.7% increase earlier.
The euro area's private sector saw a stabilization in June, with growth in manufacturing output offset by a slower decline in the services sector, according to final data from S&P Global published Friday.The seasonally adjusted S&P Global Eurozone Composite PMI Output Index rose to a three-month high of 50 in June, compared with the previous 48.5 and flash estimate of 49.5. The final reading marks the first time the index has moved out of the contraction zone since March.Meanwhile, the services PMI came in at 49.4, against the prior 47.7 and the initial reading of 48.9.
France's private sector contraction softened in June on the back of a slower decline in new orders and output amid weakening inflationary headwinds, data from S&P Global showed Friday.The S&P Global France Composite PMI Output Index rose to 47.2 from a 28-month low of 44.9 in May, below the flash estimate of 47.6.Meanwhile, the services PMI came in at 46.8, compared with the previous 44.3 and the preliminary reading of 47.4.
Italy's private sector expansion continued in June amid a renewed uptick in new business and output growth in both manufacturing and services.The S&P Global Italy Composite PMI Output Index stood at a four-month high of 50.8 in June, up from 50.4 in May, S&P Global said Friday.On the services side, the PMI was 50.2, compared with the previous 49.4 and the expected 50.3.
Spain's private sector activity continued to expand in June as a decline in manufacturing output for the first time in three months was offset by growth in services activity.The S&P Global Spain Composite PMI rose to 53.3 from 50.2 in May, S&P Global said Friday.For the service sector, the PMI came in at 54.2, against the previous 50.1 and the consensus estimate of 51. The figure represents the strongest operational momentum of 2026 so far.
British oil and gas giant BP's (BP.L) Jera Nex bp joint venture acquired Sumitomo's stakes in the Nobelwind and Northwester 2 offshore wind farms in Belgium.Jera Nex bp acquired a 30% stake in Northwester 2, taking full ownership, and a 39.02% stake in Nobelwind, raising its interest in the wind farm to 80.1%, according to a Friday release.The joint venture with Jera Co. operates both wind farms and serves as their developer.
Spain's industrial production, adjusted for seasonal and calendar effects, grew 3.4% year over year in May, following the revised 2.3% increase in April, provisional data from the National Statistics Institute showed Friday.On a monthly basis, Spanish industrial output rose 1.2%, against the revised 0.3% decline previously.
France's industrial production was down 0.1% month over month in May, following a revised 0.3% increase in the previous month, statistics agency Insee said Friday.Analysts expected a 0.3% decline for the month.On a yearly basis, the index was up 3.2%.
House prices in the euro area increased 4.7% year over year in the first quarter of 2026, against the revised 5.1% rise in the prior three-month period, data from Eurostat showed Thursday.On a quarterly basis, the eurozone's House Price Index grew 1%, compared with the revised 0.5% gain in the fourth quarter of 2025.
European bourses tracked moderately higher midday Thursday as oil prices again eased, and as consumer stocks gained favor among traders.Sodexo shares traded up 9% midday after the French food caterer bumped up full-year organic revenue growth guidance.Bank shares also led gains on continental trading floors, while tech equities lagged.Front-month North Sea Brent crude-oil futures were down 1.5% at $70.47 a barrel.Additionally, investors eyed muted Wall Street futures, and unevenly lower closes overnight on Asian exchanges, as AI- and semiconductor-related stocks retreated in Tokyo and Seoul.In economic news, the euro area's seasonally adjusted unemployment rate logged at 6.2% in May, and at 5.9% in the broader European Union, reported Eurostat.The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session.The Stoxx Europe 600 Technology Index was down 1.7%, but the Stoxx 600 Banks Index gained 1%.The Stoxx Europe 600 Oil and Gas Index rose 0.4%, while the Stoxx 600 Europe Food and Beverage Index inclined 1.4%.The REITE, a European REIT index, rose 0.5%.On the national market indexes, Germany's DAX was up 0.9%, and the FTSE 100 in London gained 0.4%. The CAC 40 in Paris was up 0.9%, and Spain's IBEX 35 lifted 1%.Yields on benchmark 10-year German bonds were higher, near 2.97%.The Euro Stoxx 50 volatility index was up 0.4% at 16.21, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.
The seasonally adjusted unemployment rate in the euro area stood at 6.2% in May, unchanged from the revised April figure, according to Eurostat data published Thursday.The latest reading is lower than the consensus estimate of 6.3%.
European tank manufacturer KNDS has postponed its planned initial public offering and market listing in Paris and Frankfurt, citing uncertain defense market conditions.KNDS said Tuesday it shareholders informed the company that they would resume the planned share sale once market conditions improve."KNDS and its shareholders will continue to monitor the capital markets conditions closely and stand ready to resume the IPO process as soon as market conditions allow," the company said, noting it had completed all required preparation phases for the proposed listing and engaged extensively with investors."These discussions confirmed that investors shared KNDS' view of its differentiated industry positioning and their belief in KNDS' long-term strategy," it added.KNDS said late last month that its shareholders, French state-owned Giat Industries and private German holding company Wegmann & Co, would sell up to 20% of the company's existing share capital under the IPO, and that it would seek listings on Euronext Paris and the Frankfurt Stock Exchange.The German government had also signed an agreement to acquire a 40% stake in the defense company from Wegmann, subject to the completion of the IPO.The proposed IPO would have valued the company at about 15 billion euros, Reuters reported Thursday, citing an unnamed source.Formed from the combination of France's Nexter and Germany's Krauss-Maffei Wegmann, KNDS manufactures armored wheeled and tracked vehicles for more than 40 armies worldwide.
Italy's unemployment rate came in at 5% in May, down from 5.1% in April, provisional data from national statistics agency Istat showed Thursday.The latest reading is below the consensus estimate of 5.1%.
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