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Europe open: Shares up at end of choppy week as political tensions weigh
(Sharecast News) - European shares opened higher on Friday after a choppy week but were down over the five sessions as tensions between Russia and the West heightened over the supply of long-range missiles to Ukraine. The pan-European Stoxx 600 index was up 0.57% to 505.32 in early deals. Investors were also eyeing flash survey data on the state of the eurozone economy.
Tensions escalated during the week when first the US and then Britain lifted a ban on the use of missiles they supply to Ukraine for strikes inside Russia. After targets were hit Moscow responded by firing an experimental hypersonic weapon at the city of Dnipro.
On the economics front, UK retail sales fell more than expected in October amid uncertainty ahead of the Budget, according to official figures.
Retail sales fell by 0.7% on the month in October following a 0.1% increase the month before. Economists had been expecting a 0.3% decline. September's gain was revised down from 0.3%.
In equity news, Warhammer maker Games Workshop surged by almost 9% after reporting better-than-expected trading since its last update on September 18.
Reporting by Frank Prenesti for Sharecast.com
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