European stocks extend gains at open; UK retail sales better than expected; NatWest posts profit beat

European stocks opened higher on Friday, following two positive sessions that brought it close to recent record highs. The Stoxx 600 index was up 0.45%, with mining stocks 1.7% higher. UK retail sales came in stronger than expected, providing a glimmer of hope for the economy. Sales rose by 3.4% month on month, higher than the growth forecast. The earnings flow slowed on Friday, though bank NatWest posted a 20% increase in full-year pre-tax profit, but shares opened 1% lower. In Asia-Pacific, stocks were broadly higher as Japan’s Nikkei 225 hit a fresh 34-year high. In the US, stock futures were mixed after the S&P 500 closed at a record high. Cryptocurrency exchange Coinbase posted its first quarterly profit since 2021, leading to a surge in share prices. The finance minister of Japan expressed urgency in monitoring yen movements. Markets in China are closed this week for the Chinese New Year holidays. Morgan Stanley highlighted Asian beneficiaries of the artificial intelligence boom, particularly in Japan. The S&P 500 notched a new record closing high.