European stocks rose today, Friday, following the gains made by Wall Street last night, supported by strong corporate results while investors await GDP growth estimates for the eurozone in the first quarter to assess the strength of the region's economies. The Stoxx 600 index increased by 0.3 percent, but it is on track for its first weekly decline in six weeks. Shares of construction and raw materials companies led the winners on the index, rising by one percent. Utility stocks fell by 0.6 percent.
Shares of the Mercedes Benz Group rose by 0.9 percent after the luxury car manufacturer raised its adjusted annual revenue forecasts for its small trucks division and stated that it expects to reach the upper end of its revenue forecasts in the car division. All eyes are on the eurozone GDP data scheduled for release at 0900 GMT, which is expected to show a slowdown in the region's economic growth in the first quarter to 1.4 percent from 1.8 percent a year ago.
