LONDON — European markets rose on Friday as global investors awaited key U.S. jobs data and a Supreme Court ruling on President Donald Trump’s tariffs.
As of 10:57 a.m. ET in London, the pan-European Stoxx 600 index was up 0.5%, with major regional stock exchanges and most sectors gaining.
On Friday morning, a British mining company rio tinto We are in preliminary negotiations to acquire a Swiss company. glencorethe world’s largest mining company could be created. Glencore was last trading 10% higher.
Defense stocks rose for the fifth day in a row on Thursday. The European Aerospace and Defense Index started on a positive note on Friday, but pared its gains by late morning to fall 0.3%, with further gains expected on Friday. This follows President Donald Trump’s calls for increased US military spending and continued rhetoric against Greenland.
In a post on TruthSocial late Wednesday, President Trump called for a 50% increase in U.S. military spending, aiming for a $1.5 trillion budget in 2027.
He has also stepped up his calls for Greenland to be brought under Washington’s control and is considering various options for achieving that, including military action. That could mean the end of NATO, given that both the United States and Denmark, which is responsible for defending Greenland, are members.
Meanwhile, the CEO of mining company Amarok told CNBC that the United States is considering investing in a major mineral extraction project in Greenland. The move comes ahead of high-stakes talks between U.S. and Danish officials over the island’s future as President Trump maintains its importance to U.S. national security.
stock market is moving
Looking at individual stocks, British Aerospace Group rolls royce It hit a new high on Friday and was last up 0.55%, driven by positive sentiment towards the defense sector and the UK. FTSE100.
Shares of European oil companies fell this week, paring gains in early trading Friday, as investors continued to react to President Trump’s actions in Venezuela. blood pressure Increased by 2.2% shell add 2%, total energy It rose by 1.9%.
It’s been a busy week for British retailers. tesco, marks and spencer and sainsbury’s. Each reported strong sales of Christmas food.
Tesco has raised its 2026 year-end profit forecast from 2.9 billion pounds ($3.9 billion) to 3.1 billion pounds. The company’s stock price was recently down 1.6%.
Sainsbury’s reported a 3.4% rise in underlying sales in the third quarter and reiterated its full-year profit forecast of more than £1bn, about the same level as last year. Shares in Britain’s second-largest supermarket chain were last down 5%, putting it near the bottom of the European index and on track for its worst day since December 8.
Elsewhere, European leaders are scheduled to vote on Friday on a trade deal with South America’s Mercosur bloc, which has faced strong opposition from farmers and some EU member states over concerns it could create unfair competition for European agriculture.
Today in Europe, several data are scheduled to be released, including Germany’s trade balance. Investors may also be keeping an eye on December’s U.S. jobs report, which will be released at 8:30 a.m. ET.
Defense stocks rose across Asia on Friday as investors digested ongoing political tensions. U.S. stock futures were mostly flat Thursday night ahead of key jobs data and a possible U.S. Supreme Court ruling on tariffs.
—CNBC’s Olivia Levieux contributed to this report.
