European stocks were seen cautiously higher Friday morning after China's GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.
The world's second-largest economy grew by 6.1% in 2019, its slowest in 29 years but meeting analyst expectations even amid the protracted trade war with the U.S., which reached a truce this week after Washington and Beijing signed an initial "phase one" trade deal.index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the S&P 500 hit record highs on Thursday following a host of strong earnings reports from major banks, also offered positive momentum.
Volkswagen CEO Herbert Diess said on Thursday that the German carmaker must accelerate urgent reforms to its business in order to avoid the same fate as Nokia, which relinquished its handset market dominance to Apple, Reuters reported. Investors will also be monitoring key December inflation data and November construction output figures out of the euro area, due at 10 a.m. London time on Friday. U.K. retail sales are due at 9:30 a.m.
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