European Shares Edge Higher Before Trump's Fed Nomination

(RTTNews) - European stocks traded higher on Friday after U.S. lawmakers reached a bipartisan funding deal to avoid a government shutdown and reports emerged that President Donald Trump is set to announce former Federal Reserve official Kevin Warsh as his choice to replace Jerome Powell as the chair of the central bank.

In economic releases, key Eurozone GDP and jobs data are awaited later in the day. The pan European Stoxx 600 was up 0.4 percent at 609.39 after falling 0.2 percent on Thursday.

The German DAX climbed 0.8 percent after plummeting 2.1 percent the previous day as SAP results disappointed.

France's CAC 40 added 0.3 percent and the U.K.'s FTSE 100 was up 0.2 percent. In corporate news, Spain's CaixaBank surged 4 percent after saying it expects lending income to rise this year and next.

Swatch Group shares soared 6.6 percent. The maker of Tissot and Omega watches said sales grew 4.7 percent at constant exchange rates in the second half of 2025.

Swedish industrial bearings maker SKF slumped 6 percent after Q4 revenues came in below estimates.

Electrolux shares jumped 16 percent. The home appliances maker posted a sharp improvement in fourth-quarter profit but predicted higher costs this year.

Signify, the world's biggest lights maker, plummeted 13 percent after reporting full-year results below expectations.

British bank Lloyds advanced 1.4 percent as it launched a share buyback program to repurchase up to £1.75 billion of its ordinary shares.

German sportswear maker Adidas rallied 6 percent after reporting record revenues in 2025 and announcing a 1-billion-euro ($1.2 billion) stock buyback.