European Shares See Cautious Gains Ahead Of US Core PCE Reading

European stocks were seeing modest gains in cautious trade on Friday after U.S. tech giants Microsoft and Alphabet posted strong quarterly earnings and an ECB survey showed Euro zone consumers lowered their expectation for inflation over the next 12 months in March.

Meanwhile, France's consumer confidence unexpectedly decreased in April, monthly survey data from the statistical office INSEE showed earlier today.

The consumer sentiment index dropped to 90 in April from 91 in the previous month. Economists had expected the score to rise to 92.

Elsewhere, a monthly survey conducted by the market research group GfK revealed that British consumer sentiment improved in April on slowing inflation as well as expectations about further tax cuts.

The consumer confidence index rose to -19 in April from -21 in March. The score was also better than economists' forecast of -20.

The core Personal Consumption Expenditures (PCE) Price Index, the U.S. Federal Reserve's preferred inflation measure, will be published later today.

The pan European STOXX 600 rose half a percent to 504.98 after falling 0.6 percent on Thursday.

The German DAX climbed 0.7 percent, France's CAC 40 edged up 0.2 percent and the U.K.'s FTSE 100 was up 0.4 percent.

Defense firm Saab AB tumbled 3 percent despite raising its sales outlook for the full year.

Home appliance maker Electrolux added 2.4 percent after reporting a smaller-than-expected Q1 loss.

Ball-bearing maker SKF surged 3 percent as Q1 core profit beat estimates.

Mining giant Anglo American edged down slightly in London after rejecting BHP's buyout proposal.

Natwest surged 4.6 percent as the lender reported a slightly smaller-than-expected fall in income and profit for its first quarter.

Engineering firm Senior Plc rose about 1 percent after reporting increased Q1 revenue and backing full-year guidance.

Pearson declined 1.7 percent on posting muted first quarter total underlying sales growth.

French construction materials group Saint-Gobain surged 5.6 percent after Q1 revenue topped forecasts.

Planemaker Airbus fell 2.4 percent after posting weaker-than-expected first-quarter operating profit and cashflow.

Construction and infrastructure company Vinci rose 1.1 percent after confirming its forecasts for the year.

Aerospace-industry supplier Safran declined 1.9 percent despite posting higher Q1 revenue and reaffirming its FY24 outlook.

Thyssenkrupp soared 10 percent after the German conglomerate has agreed to sell a 20 percent stake in its steel business to EP Corporate Group (EPCG).

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