European stocks swung between small gains and losses Friday after data showed business confidence in Germany fell this month.
All of the components not only missed forecasts but they have also worsened April’s readings.
Previously, the German GDP for the first quarter expanded 0.8% QoQ and 2.5% on a yearly basis, bettering previous estimates.
The Stoxx Europe 600 index edged up less than 0.1% to 341.16.
Germany’s DAX 30 index was up 0.1%, France’s CAC 40 index dropped 0.2% and the U.K.’s FTSE 100 index shed 0.2% with shares of Smiths Group PLC giving 1.6% after the security-sensor maker issued a profit warning.
Pandora AS shares fell 3.6% after the jewelry retailer said it was selling 13 million shares to institutional investors.
Smiths Group Plc (SMIN) fell 2.1% after the producer of security scanners forecast a drop in profitability at its Smiths Detection unit.
On a more upbeat note, shares of Lanxess AG rose 1.3% after Goldman Sachs lifted the chemicals firm to buy from neutral.
Thales SA gained 1.2%. The French maker of defense electronics said it’s in exclusive talks with Alcatel-Lucent to acquire is cyber-security services and communications security activities.
BTG Plc rallied 4.8%, posting its biggest two-day gain since November. The biotechnology company said the U.S. Food and Drug Administration approved its EkoSonic Endovascular System for treating pulmonary embolism.
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