European Stocks Drift Higher Before Weekend
Europe's main stock markets drifted higher in late morning deals on Friday, as investors tracked positive US economic data and easing concerns over the Greek debt crisis.
London's benchmark FTSE 100 index of leading shares added 0.39 percent to 5,963.29 points, Frankfurt's DAX 30 rose 0.39 percent to 7,172.66 points and the Paris CAC 40 gained 0.23 percent to 3,588.37.
The European single currency eased to $1.3062 from $1.3082 late in New York on Thursday.
Investors will later pore over more crucial US data including industrial production and inflation.
"Equity markets have continued to push higher at the end of a very positive week, largely on the back of optimism over the economic recovery in the United States, and a belief that the problems in Europe have been somewhat alleviated in the short to medium term," said CMC Markets analyst Michael Hewson.
Asian markets ended mixed as lingering concerns over elevated oil prices and China's slowing economy tempered upbeat US economic data, traders said.
Wall Street had posted modest gains on Thursday as investors digested US figures that suggested the world's biggest economy was finally on the road to recovery.
New York stocks got another shot in the arm as tech giant Apple's share price briefly surged above $600 ahead of Friday's global release of the newest iPad model.
US data on Thursday showed a better-than-expected 351,000 initial weekly jobless claims were filed in the week ending March 10.
In addition, two surveys of manufacturing in New York and the mid-Atlantic region showed activity continuing to rise.
Sentiment was also boosted after the International Monetary Fund on Thursday approved a second rescue loan for debt-riddled Greece, joining the European Union again in an attempt to save the country from bankruptcy.
The IMF executive board authorized a four-year, 28-billion-euro ($36.7-billion) loan for Greece "in support of the authorities' economic adjustment program," the global lender announced overnight.
Trader Anita Paluch at Gekko Global Markets said that the news had averted a potentially disastrous default by Athens.
"The IMF approved the 28-billion-euro loan to be released to Greece, so the country will not default on its debt payment (and) the immediate disaster has been averted for the time being," Paluch said.
"Nevertheless, stocks are moving rather idly without a fixed direction while the focus shifts to inflation data from the United States."
In Asia on Friday, Hong Kong's main stock index closed down 0.17 percent and Seoul fell 0.46 percent, while Tokyo and Sydney finished flat.
Shanghai gained 1.30 percent on bargain hunting after suffering a fall of more than three percent in the previous two sessions.