The economy is growing, inflation is falling: key data from Europe

Stock indexes in Western Europe ended Friday's trading mostly in the red. The composite Stoxx Europe 600 dropped 0.05% to 530.07 points. The British FTSE 100 declined by 0.06%, the German DAX lost 0.08%, and the Spanish IBEX 35 decreased by 0.07%. The French CAC 40 and the Italian FTSE MIB showed growth of 0.44% and 0.24%, respectively.

ECB President Christine Lagarde said in Davos that inflation in the eurozone, at 2.4%, is heading down. IMF Director Kristalina Georgieva noted the uniqueness of the current situation, where a slowdown in inflation is accompanied by economic growth, which was made possible by improved policy coordination after the 2008 crisis.

The eurozone PMI index rose to 50.2 points from 49.6 in January, exceeding forecasts. In Germany, the indicator rose to 50.1, in France – to 48.3.

Burberry shares rose 9.9% due to better-than-expected sales. LVMH (+1.9%), Kering (+4.5%) and Hermes (+0.9%) also strengthened in the luxury segment. Ericsson's shares fell by 12.7% due to weak reporting. Italian Banca Monte dei Paschi lost 6.9% amid the deal with Mediobanca (+7.7%). DS Smith grew by 2% after the approval of the deal with International Paper. Novo Nordisk gained 7.1% on the back of the success of a new weight loss drug.