Europe midday: Stoxx up as investors assess EU/US trade surplus

(Sharecast News) - European shares were higher on Friday as investors digested data showing the European Union's trade surplus with the US surged in March.

The pan-regional Stoxx 600 index was up 0.60% to 550. Germany's DAX gained 0.66% to 23,838.

"The chief driver of global markets this week has been improving US trade relations, especially with China. However, as we end the week, this is fading," said XTB research director Kathleen Brooks.

"On Thursday, the powerful uptrend in the Nasdaq took a breather, for the first time this week. Nvidia also fell slightly on Thursday, however, the chip maker has surged by nearly 15% in the past five trading sessions, so a pullback is to be expected."

Data from stats agency Eurostat showed the EU's trade balance with the US surged to �40.7bn in March, up from �16.7bn a year ago, with exports to America up 59.5%. US President Donald Trump has sparked a global tariff war in an attempt to reduce surpluses with his trading partners.

In equity news, Cartier owner Richemont gained after reporting better-than-expected fourth-quarter sales, as rich shoppers as usual proved immune to economic turmoil.

Property developer Land Securities fell after full-year results underwhelmed the market, while CVC Capital Partners rose after Morgan Stanley upgraded the stock to 'overweight'.

Reporting by Frank Prenesti for Sharecast.com