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European stocks rallied Friday (February 5th), tracking optimistic sentiment on Wall Street thanks to hopes for a faster global economic recovery, while stocks in Frankfurt lagged in performance after data showed a decline in industrial orders.
The European Stoxx600 index gained 0.2% and is on track to post its longest winning streak since late December. The index is also up 3.5% for the week and is on track to achieve its best weekly performance since November.
The German DAX index fell 0.1% after data showed that orders for the supply of manufactured goods in Germany fell more than expected in December, ending a series of positive data that lasted for seven months as restrictions imposed to combat the Covid-19 pandemic reduced demand from the rest of the euro area.
