Earnings support European stocks ahead of GDP data

European stocks inched higher on Friday, as strong corporate earnings lifted investor spirits ahead of the release of euro zone economic growth data for the first quarter. The pan-European STOXX 600 index was up 0.2% by 0720 GMT.

European stocks inched higher on Friday, as strong corporate earnings lifted investor spirits ahead of the release of euro zone economic growth data for the first quarter.

The pan-European STOXX 600 index was up 0.2% by 0720 GMT. The benchmark hovered below its all-time high and was on course to end April 2.3% higher. British drugmaker AstraZeneca gained 2.7% on reporting better-than-expected results and forecasting sales growth.

Swedish Match rose 1.9% after the tobacco group reported a much higher first-quarter operating profit than expected. However, Barclays tumbled 6.2% despite reporting a quarterly profit that more than doubled, while France's BNP Paribas slipped 1.0% after better-than-expected profit.

All eyes are now on the euro zone's GDP data due at 0900 GMT. The economy is forecast to have shrunk 2% in the first quarter versus a 4.9% fall in the final quarter of last year.