By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — European stock markets struggled to stay on positive ground Friday, getting some help from upbeat data out of Germany and the U.K., and from a global rally kept going by reassuring comments from another U.S. Federal Reserve official on the central bank’s stimulus program.
The Stoxx Europe 600 index XX:SXXP -0.47% was flat at 286.44, fighting for a fourth straight day of gains. The index closed up 0.7% on Thursday. It’s looking set to finish at a 5% loss for the month and a more-than-2% loss for the quarter.
Among shares that were active, Heinken NV dropped 1.5% NL:HEIO -2.61% after Nomura cut its rating on the group to reduce from neutral. Analyst Ian Shackleton said it continues to see short-term trading pressure on the beer group, especially within western Europe, along with increased currency headwinds and signs of slowing momentum in some emerging markets.
Drug stocks weighed on the downside after prior-day gains, with shares of Roche Holding AG CH:ROG -1.95% off 2% and Sanofi SA FR:SAN -0.53% SNY +0.04% dropping 1%.
Economic data was helping to underpin positive sentiment. U.K. consumer sentiment reached the highest level since October 2010, while German retail sales were better than expected in May.
The FTSE 100 index UK:UKX -0.18% rose 0.1% to 6,257.71, while the German DAX 30 index DX:DAX -0.32% was flat at 7,994.24.
The French CAC 40 index FR:PX1 -0.67% fell 0.1% to 3,757.12, with shares of Schneider Electric SA FR:SU -1.90% down 1%.
Markets will also be keeping a keen eye on the U.S., where several Federal Reserve officials will hit the speaking trail, and consumer sentiment reports are also on tap. Comments from a clutch of Fed speakers that helped to ease tapering fears helped lift Wall Street to its third-straight gain on Thursday.
Global stock gains continued in Asia, led by Japan, which saw the release of a clutch of largely upbeat economic data.
Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @MWBarbaraKollmeyer.
