Europe’s benchmark stock index headed for a third-straight week of gains on Friday, with Valeo SA rallying after reporting earnings, and BAE Systems PLC and Rémy Cointreau SA climbing after broker upgrades.
The Stoxx Europe 600 index added 0.2% to 335.28, setting it on track for a 0.6% weekly advance.
UK data showed retail sales in the British economy contracted 1.5% inter-month, the biggest decline since April 2009; over the last twelve months, sales expanded 4.3%. Excluding Fuel costs, sales also dropped below estimates 1.5% MoM and advanced 4.8% on a yearly basis.
The U.K.’s FTSE 100 index gained 0.5%, France’s CAC 40 index was slightly lower and Germany’s DAX 30 index fell 0.1%.
The Frankfurt benchmark was weighed by Deutsche Bank AG, off 0.6%, and Siemens AG, 0.4% lower.
In Friday’s trade, shares of Valeo rallied 10% after the French auto-parts maker said profit rose 18% in 2013.
Rémy Cointreau SA gained 5% after Barclays lifted the spirits maker to overweight from equal weight.
Shares of BAE Systems added 1.3% after Société Générale lifted the aerospace and defense firm to buy from hold. On Thursday, the U.K. company dropped 8.3% after posting a fall in 2013 profit.
Shares of AXA SA slipped 2.2% after the insurer posted full-year profit below market expectations.
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