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European stocks closed higher last Friday as investors digested economic data from the region, including a preliminary reading of UK second-quarter GDP, impressions of July inflation in France, Spain and in Italy and industrial production in the euro zone for June.

Camilla Cerea | Bloomberg via Getty Images

European markets are expected to open in positive territory on Monday, continuing a positive trend seen at the close of trading last week.

European stocks closed higher last Friday as investors digested economic data from the region, including a preliminary reading of UK second-quarter GDP, impressions of July inflation in France, Spain and in Italy and industrial production in the euro zone for June.

Data released by the UK showed the economy contracted in the second quarter of 2022 as the country’s cost of living crisis hit at home. Official figures showed gross domestic product fell 0.1% quarter on quarter in the second three months of the year, less than the 0.3% contraction analysts expected.

Investors also had colder-than-expected US inflation data last week on their minds. The consumer price index rose 8.5% in July from a year ago, below expectations, mainly due to falling energy prices.