European stocks mixed, British retail sales plunge

European stock markets showed mixed trade performances on Friday.  Meanwhile, British retail sales showed a huge slump in January.

Germany’s DAX gained 0.3%.  The CAC 40 in France also improved 0.3%. The U.K.’s FTSE index was on the losing side with a 0.1% drop. This is after retail sales data were released, showing a huge 8.2% decline on the month after non-essential stores were restricted to operate anew. The retail sales slump recorded was the second-biggest decline on record after the fall in April 2020.

Back to the European bloc, economic activity in Germany grew for an eighth month, with manufacturing growing at the fastest pace in three years, based on IHS Markit data. Also, French factories reported the fastest growth since early 2018.

Going corporate, Hermes International stock gained 5.8% after it reported a sharp sales recovery in the fourth quarter. Volkswagen soared 2.2% to its highest in more than a year while Renault stock dropped 3.2% after reporting a record annual loss of 8 billion euros.