Euro zone retail sales fell 0.5% in February, marking the third consecutive month of decline, according to new preliminary data released on Friday. This drop, in line with economists’ expectations, has dashed hopes of a consumer-led recovery in the region.
Additionally, euro zone construction also saw a decrease in March due to subdued demand, further adding to the economic concerns in the region.
Meanwhile, in the stock market, shares of Delivery Hero fell 3.4% following reports that activist investor Sachem Head has built a stake in the company and may be looking to replace the CEO. On the other hand, Finnish oil refining company Neste saw a 2.6% increase in its stock price as its refinery undergoes maintenance.
In the UK, house prices fell 1% in March, breaking a streak of five consecutive months of gains. This decline was attributed to uncertainty surrounding interest rate cuts and stalled mortgage rate declines.
Overall, European markets are expected to open mixed on Friday, with investors closely watching data on retail sales, construction, and home sales in the region.
For more detailed information on these developments and insights from analysts, CNBC Pro subscribers can access exclusive content on stock price targets and top stock picks from portfolio manager Barbara Doran.
