Stock Markets Higher After Hopeful Industry Figure in China

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European stock markets showed some recovery on Friday after the heavy loss a day earlier. A stronger-than-expected increase in Chinese industrial production in April gave investors hope about easing corona measures.

 

The markets also processed the economic contraction of the eurozone in the first quarter.

Around noon, the AEX index at Beursplein 5 recorded 1.3 percent in the plus at 505.60 points. The main index lost 2.6 percent on Thursday.

The MidKap won 1.2 percent to 674.68 points. The stock exchanges in London, Paris and Frankfurt advanced by 1.7 percent.

The eurozone economy contracted by 3.8 percent last quarter. The figure was the same as a previous estimate.

China’s industry, on the other hand, appears to be recovering somewhat after the severe blow from the corona crisis. Industrial production of the second-largest economy in the world increased for the first time in April this year.

However, Chinese consumers are keeping their hands on the cut, causing retail sales to fall more sharply than expected.

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