Investing.com - European stocks were higher on Friday, supported by the release of upbeat data from France and Spain, while investors still awaited reports on euro zone inflation and unemployment due later in the trading session.
During European morning trade, the EURO STOXX 50 added 0.27%, France’s CAC 40 edged up 0.23%, while Germany’s DAX 30 rose 0.29%.
Official data earlier showed that French consumer spending increased by 1.5% in December, exceeding expectations for a 0.2% rise. November's figure was revised to a 0.2% gain from a previously estimated 0.4% advance.
Data also showed that Spanish gross domestic product rose 0.7% in the fourth quarter of 2014, above expectations for a 0.6% gain, up from a growth rate of 0.5% in the previous quarter.
A separate report showed that German retail sales gained 0.2% last month, disappointing expectations for a 0.3% rise. November's figure was revised to a 0.9% increase from a previously estimated 1.0% climb.
European equity markets had weakened after Greece's new government moved Wednesday to roll back deeply unpopular austerity policies underpinning the county’s €240 billion international bailout, fuelling fears over a clash with its international creditors.
Markets were also jittery after the Federal Reserve indicated that interest rates could start to rise around mid-year.
Financial stocks were mixed, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.41% and 0.11%, while Germany's Commerzbank (XETRA:CBKG) and Deutsche Bank (XETRA:DBKGn) slid 0.64% and 0.75%.
Among peripheral lenders, Unicredit eased 0.09% and Intesa Sanpaolo edged up 0.11% in Italy, while Spanish banks Banco Santander and BBVA rose 0.32% and 0.36% respectively.
Elsewhere, Tele2 AB (ST:TEL2As) tumbled 1.88% after the Stockholm-based telecommunications giant reported fourth-quarter earnings below analysts' estimates.
In London, commodity-heavy FTSE 100 edged up 0.09%, supported by gains in mining stocks.
Shares in Anglo American climbed 1.37% and Randgold Resources jumped 1.85%, while rival company Fresnillo (LONDON:FRES) rallied 2.03%.
In the financial sector, stocks were also mostly higher. The Royal Bank of Scotland (LONDON:RBS) added 0.22% and Barclays rose 0.30%, while Lloyds Banking (LONDON:LLOY) gained 0.48%. HSBC Holdings (LONDON:HSBA) underperformed however, sliding 0.44%.
On the dowmside, BT Group plummeted 1.48% after the U.K.'s largest landline carrier reported third-quarter earnings in line with analysts’ estimates.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.58% drop, S&P 500 futures signaled a 0.46% decline, while the Nasdaq 100 futures indicated a 0.17% loss.
Later in the day, the euro zone was to release preliminary data on inflation as well as a report on the unemployment rate. The U.S. was to publish preliminary data on fourth quarter growth as well as reports on business activity in the Chicago region and revised data on consumer sentiment.