European markets surge on strong Chinese economic data and Arm's successful IPO

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European markets surge on strong Chinese economic data and Arm's successful IPO
Credit: © Reuters.

European markets saw a late boost on Friday, driven by an array of factors including strong economic data from China and a successful initial public offering (IPO) from semiconductor manufacturer, Arm. The Stoxx Europe 600 index rose by 0.3%, settling at 462.01.

Arm's IPO debut significantly contributed to the upbeat sentiment in the market. The chip-maker's impressive start is seen as a positive indicator for European stocks.

The European Central Bank (ECB) also played a pivotal role in shaping the market sentiment. After raising interest rates on Thursday, the ECB hinted that these rates have likely peaked, further bolstering the positive market response.

Robust economic figures from China were another key factor behind the surge in European stocks. The strong data encouraged investors and played a significant role in the market uptick.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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