European markets were higher Friday as investors digested the European Central Bank’s latest decision and fresh economic data.
The pan-European Stoxx 600 was up 1.1% in early afternoon deals, with sectors trading in mostly positive territory. Household goods were up 4.7%, while tech stocks sunk 0.8%.
French drinks maker Remy Cointreau jumped to the top of the Stoxx 600 in early trade, rising 16%, after reporting a smaller than expected decline in third-quarter sales. Luxury fashion house LVMH also rose 10% as increased fourth-quarter sales signaled a boost for the luxury sector.
The ECB met market expectations Thursday and held interest rates steady at their current record high. The euro zone deposit rate was kept at 4% for the third straight meeting and the ECB reiterated that it would keep rates high for a “sufficiently long duration” to bring inflation to target.
U.K. consumers are…