European equities moved mostly higher on Friday as oil prices declined from recent levels and data showed the UK economy expanded in July.
Brent crude futures fell more than 3% to below $104 a barrel after the Financial Times reported that Iran and Oman were holding discussions with Gulf states regarding the reopening of shipping through the Strait of Hormuz.
According to the report cited in the source, Gulf foreign ministers plan to meet their Iranian counterpart in Salalah, Oman, on Monday to discuss an arrangement for managing commercial shipping through the strait.
UK Economy Expands in July
UK gross domestic product increased 0.4% month on month in July, according to the Office for National Statistics, following growth of 0.3% in June and no growth in May.
On an annual basis, GDP increased 1.6% in July, compared with forecasts of 1.2%.
Germany’s DAX gained 0.5%, while France’s CAC 40 and the UK’s FTSE 100 both rose 0.6%.
Alstom, Fraport and Trainline Rise
Alstom (EU:ALO) shares advanced after the French train manufacturer signed contracts worth €1.2 billion with TransPennine Express.
Fraport (TG:FRA) also moved higher. The transport company said approximately 6.3 million passengers travelled through Frankfurt Airport in August, representing a 0.3% decline from the corresponding month a year earlier.
Trainline (LSE:TRN) shares also gained after the British rail ticketing platform announced a £100 million share repurchase programme to be conducted over 12 months.
United Internet (TG:UTDI), meanwhile, declined after the German internet services company launched cost-saving programmes at subsidiaries 1&1 and Ionos that include job reductions.
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