European stocks rose with the support of healthcare companies and headed for a second weekly gain

European stocks rose on Friday, approaching their highest levels in nine months, supported by the rise in health care stocks and the unexpected growth of the British economy in November, as investors awaited the results of the operations of major US banks.

The European STOXX 600 index rose 0.2% by 0811 GMT, and the British Financial Times 100 index rose 0.4% after data showed that the British economy grew by 0.1% in November.

European shares are heading for gains for the second week in a row, at an optimistic start to January and the new year, after data indicated slowing inflation in the euro zone and the United States, which could allow central banks to slow the pace of monetary tightening.

Interest rate-sensitive technology stocks and retail stocks have led gains since the beginning of the year, up 13 percent and 14.4 percent, respectively, after the two sectors suffered in 2022, which saw fears of an economic slowdown and interest rate hikes.

Healthcare stocks were the biggest supporters of the European index on Friday, with Novo Nordisk and Roche Holdings rising more than 1.5 percent in early trade.

Online gaming group Kindred fell 16.6% after a fourth-quarter earnings warning.