On Thursday, European stock indexes traded in different directions, amid increasing political tensions in the United States and the growth of shares of mining and energy companies. Company revenues and US statistics paint a picture of global economic growth, and political risks eased after the presidential election in France. In spite of this, investors show doubt in continuing growth of markets that are at record high levels, which leads to a drop in volatility. The British market has not changed much, while investors are waiting for the Bank of England report on inflation and announcement of interest rates. Italy’s banking sector is once again the focus of the market after a positive UniCredit SpA earnings report helped raise Italian bank stocks. UniCredit shares rose 4% after the Italian lender showed a profit of 907 million euros in the first quarter. In the fourth quarter, the bank lost more than 13 billion euros. Oil prices continue to rise after the U.S. Energy Information Agency reported a drop in crude oil reserves of -5.247 million barrels last week. The British pound weakened sharply after the publication of weak data on industrial production and manufacturing in the UK manufacturing industry. The European currency remains stable, amid the lack of strong data capable of influencing its quotes. Germany’s wholesale price index in April rose by 0.3% compared to the previous month, while the growth forecast was 0.1%. Switzerland’s CPI rose 0.2% in April from the previous month, which is in line with economists’ expectations. The volume of construction in the UK in March decreased by -0.7% compared to the previous month, with a growth forecast of 0.3%. The volume of industrial production in the UK in March fell by -0.5% compared to the previous month, while the forecast decline of -0.3%. The volume of production in the UK manufacturing industry in March decreased by -0.6% compared to the previous month, while the forecast was a decline of -0.2%. The UK trade balance in March is -13.44 billion, while the forecast is -11.80 billion.

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