European equities advanced Friday following strong economic data, while US markets ended a volatile week on a muted note amid lingering inflation concerns. IHS Markit's Purchasing Managers' Index (PMI) index of eurozone activity rose to a strong 56.9 in May from 53.8 in April, well above the 50-point level that indicates growth. Frankfurt stocks added 0.4 percent overall, and Paris won 0.7 percent as exchanges headed into the weekend. After three straight declines, major indices won strong gains on Thursday, but markets failed to extend the rally in Friday's muted session. "Basically for the past year, stocks have rallied strongly on the idea that the economy will reopen," said Karl Haeling of LBBW.

Source: News 24 May 22, 2021 06:00 UTC