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(Sharecast News) - European shares were higher as traders assessed economic data from Germany and the latest developments in the US-Iran war.
The pan-regional Stoxx 600 index was up 0.41% to 623 at 0840 BST with all major bourses higher.
Germany's DAX gained 0.41% after official data confirmed Europe's biggest economy grew by 0.3% in the first quarter of 2026 compared with the previous three months.
Meanwhile, German consumer sentiment and business morale recovered heading into June, as households' income expectations improved, according to two separate surveys.
The GfK/Nuremberg Institute for Market Decisions consumer sentiment index rose to -29.8 points for June from a revised -33.1 points in May.
Business morale unexpectedly improved in May, but economists warned that the outlook remained fragile. The Ifo institute said its business climate index rose to 84.9 compared to a revised 84.5 in April.
In the UK, retail sales fell 1.3% in April from the previous month, after rising 0.6% in March, with fuel sales plunging more than 10% as motorists conserved fuel amid price volatility because of the Iran war.
"As we end the week, the market continues to hold out hope that there will be a resolution to the conflict in the Middle East. The oil price has been volatile but is lower on the day and is currently below $105 per barrel for Brent crude. Brent is lower by 4.7% so far this week, which is boosting the market mood as we move into the weekend," said XTB research director Kathleen Brooks.
"The market continues to think that a deal between the US and Iran is likely, even if we have had mixed messages from both sides. The US has said that a deal is near, but Iran cannot have a nuclear weapon, whereas, Iran has said that it wants to keep its uranium stores."
"From a trading perspective, it is best to ignore the noise and rhetoric from both sides and concentrate on the numbers. Lower oil prices and bond yields can keep stocks supported in the short term, even if the longer-term outlook depends on the full reopening of the Strait of Hormuz."
In equity news, shares in Puig fell as the Spanish perfume maker and Estee Lauder ended merger talks.
Softcat surged after the IT provider lifted guidance on corporate demand for artificial intelligence.
Reporting by Frank Prenesti for Sharecast.com