BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded mostly higher on Friday and were set for weekly gains on the back of strong corporate earnings and easing AI concerns.
The upside remained capped amid simmering geopolitical tensions after U.S. President Donald Trump set a deadline of 10-15 days for Iran to agree nuclear deal or face 'bad things'.
Iran warned U.S. bases in the Middle East could be 'legitimate targets' if Washington attacks.
British Prime Minister Keir Starmer has reportedly blocked a request from Trump to allow U.S. forces to use U.K. air bases during any pre-emptive attack on Iran, saying it could break international law.
In economic releases, U.K. retail sales growth accelerated the most since May 2024, partly due to higher artwork and antiques sales, data from the Office for National Statistics showed.
Retail sales posted a monthly growth of 1.8 percent in January, following a rise of 0.4 percent in December. This was the strongest growth since May 2024.
On a yearly basis, retail sales growth accelerated to 4.5 percent in January from 1.9 percent in December.
Elsewhere, a survey showed Euro zone business activity accelerated faster than forecast this month.
The pan-European Stoxx 600 edged up by 0.2 percent to 626.45 after falling half a percent on Thursday.
The German DAX was marginally lower, while France's CAC 40 rose about half a percent and the U.K.'s FTSE 100 was up 0.4 percent.
West Africa-focused oil and gas company Tullow Oil fell 2.2 percent in London after 2025 revenue missed expectations.
Reinsurance giant Swiss Re gained 1 percent after it agreed to buy QBE Insurance Group's global trade credit and surety business.
French industrial gases group Air Liquide rose about 2 percent. After posting a rise in full-year net profit, the company confirmed its 2026 margin guidance and announced a new operating margin target for 2027.
Italian luxury brand Moncler soared nearly 11 percent after revenues rose 7 percent at constant exchange rates in the fourth quarter, driven by solid growth in Asia and the Americas.
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