European Stocks Close Higher Friday; German Q1 GDP Increases, Semiconductor Shares Gain

11:57 AM EDT, 05/22/2026 (MT Newswires) -- European stock markets closed higher Friday as the Stoxx Europe 600 rose 0.7%, Germany's DAX 40 climbed 1.2%, the FTSE 100 gained 0.2%, and France's CAC 40 and the Swiss Market Index each advanced 0.4%.

Semiconductor stocks rallied on the continent as Infineon rose 8% in Frankfurt, STMicroelectronics gained 4.7% in Paris, and ASML increased 4.5% in Amsterdam.

In Germany, gross domestic product expanded 0.3% in Q1 from the previous quarter, according to Destatis, the Federal Statistical Office.

"Following the slight growth at the end of 2025, the German economy also got off to a positive start in 2026," Destatis President Ruth Brand said in a statement. "Exports, in particular, rose significantly at the beginning of the year and supported economic output."

In corporate news, Novo Nordisk received the European Medicines Agency's recommendation for the extension of Wegovy's marketing authorization to include its oral formulation for weight management. Additionally, Novo Nordisk's Ozempic and Eli Lilly's Mounjaro are being linked to better cancer outcomes in four new studies, the Wall Street Journal reported.

Novo Nordisk shares rose 1.7% in Copenhagen.

TotalEnergies is considering selling a 50% stake in a portfolio of European renewable energy assets in a deal that could be worth several hundred million euros, Bloomberg reported.

Shares of the French oil and gas company dropped 1.9% in Paris.

AstraZeneca's Etcamah received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use to treat ER-positive, HER2-negative locally advanced or metastatic breast cancer in patients with ESR1 gene mutations.

Shares of the British pharmaceutical company fell 0.8% in London.

UBS said Thursday it expects the voluntary review of historic World War II operations at Credit Suisse to conclude by the end of the year.

Shares of the Swiss bank eased 0.1% in Zurich.

Manchester United signed men's first-team head coach Michael Carrick to a new contract running through 2028.

Shares of the English soccer club rose 2% in London.

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