European stocks rise in morning trade led by consumer goods companies
rose on Friday morning in the last week of the week on the way to the first weekly gain in the last three weeks, led by consumer goods and retail sectors, and overshadowed export companies affected by the rise of the euro.The Dow Jones Stoxx Europe 600 rose 0.4% by 11:10 GMT, and the index ended yesterday's session up by 0.1%, after strong economic data on industrial and service activities in Europe.Consumer goods companies made strong gains during morning trade, after news that China was cutting import duties for some consumer products, Danone rose 1.5%.
The retail sector also rose, with strong sales forecast for companies during black Friday discounts, which may be indicative of sales volume during the New Year holiday season.In contrast, most of the export companies, especially the automakers, fell as the euro rose to a one-and-a-half month high against the US dollar.Euro Stoke 50 rose 0.5%. In France, the CAC 40 index rose by 0.6%. In Germany, the DAX rose by 0.3%. In London, the FTSE 100 index shed 0.1%.