European markets ended the week up, posting the best weekly gain since February, boosted by strong oil prices during the week and encouraging numbers out of the U.S. The positive end to the week followed a mixed day, and major indices finished up with minor gains.
Data out the U.S. released today showed the economy grew faster than expected. The economy grew at an annualized pace of 0.8% in the first quarter, above a previous estimate of 0.5%.
In London, the FTSE 100 had a mixed day closing 0.08% up at 6,270.79. Trading volume was low before a bank holiday on Monday.
Royal Mail was the biggest gainer on the benchmark index, rising 2%.
The exact nature of the deal is not clear, and neither company was prepared either to comment beyond confirming that a statement would likely be issued before the markets open next week.
However, a merger would create a company with a market capitalization of about $7.4 billion. Trading in both was suspended shortly after midday on Friday, after Amsterdam listed PostNL rose 5.4% to €3.86 and the larger, Brussels listed bpost rose 0.6% to €24.33.
In Frankfurt, the Dax gained 0.13%, closing at 10,286.31. In Paris, the Cac 40 was up 0.05% at 4,514.74.