The Stoxx 50 and Stoxx 600 edged higher on Friday (August 15), extending their gains for a fourth consecutive session as investors awaited the high-stakes Trump-Putin summit in Alaska, hoping for progress in ending the Ukraine war.
Sentiment strengthened despite mixed global data, including weaker factory output and retail sales in China in July. In corporate news, Pandora reported Q2 organic sales rose 8% to DKK 7.08 billion ($1.1 billion), slightly missing estimates, with U.S. sales up 12% but China sales down 15%.
The jewelry company will double its planned store closures in China to 100 this year, but maintain its growth and profit margin projections for 2025. European stocks are on track for a second weekly gain, although optimism over a US interest rate cut has eased after the PPI rose at its fastest pace in three years in July, cutting the odds of a September rate cut to 90%. (alg)
Source: Trading Economics
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