Source: Sharecast
The pan-regional Stoxx 600 index was up 1.14% to 546.60. Germany’s DAX powered ahead almost 2% and France’s CAC 40 rose 1.13%.
China’s central bank on Thursday said that it was looking into creating more structural tools to support innovation, domestic consumption and exporters.
"European markets are in the green today following a blockbuster session for Asian equities with investors seemingly finding value away from the US right now," said MarketScope analyst Joshua Mahony.
In economic news, UK GDP in January contracted by 0.1% from December’s growth of 0.4% and expectations for 0.1% growth.
“The UK economy is flatlining at best, and this report does not consider the market turmoil since President Trump entered the White House,” said XTB research director Kathleen Brooks.
“ECB President Christine Lagarde warned that President Trump’s decisions could hurt economic growth, and a trade war would have ‘severe consequences’ for the global economy. We may see key global figures stand up to President Trump in the coming weeks, although it is hard to know if this will have a moderating influence on him.”
German inflation unexpectedly fell in February, building a case for further policy easing by the European Central Bank. However, wholesale price surged by their most in nearly two years, according to data from the Federal Statistical Office on Friday.
The EU-harmonised German consumer price index rose at an annual rate of 2.6% last month, according to Destatis's final estimates, revised down from the 2.8% initially reported two weeks ago.
In equity news, BMW shares dipped as the German automaker forecast profit margins would be below expectations due to the impact of US tariffs and anticipating an even more intense trade war.
Kering shares tanked as investors expressed disappointment on the appointment of Demna Gvasalia as design chief of its Gucci brand in an effort to revive its fortunes.
Universal Music Group was hit after Pershing Square cut its stake in the company.
