Eurozone economy grew a paltry 0.3 percent in Q4

With a little more than one hour of trading to go, the Stoxx 500 index of European shares is up 1.9 percent at 309.48. Those concerns still weighed heavily Friday on Japan’s Nikkei index, which fell 4.8 percent.

Partly reflecting an increase in auto sales, the Commerce Department released a report on Friday showing that USA retail sales rose by slightly more than anticipated in the month of January.

The son of a gunman who fatally shot two Maryland sheriff’s deputies before he was killed in a shootout says his father was a heavy drinker with emotional problems, but never spoke poorly of police.

Bank stocks are among the top risers in European markets, led by Germany’s Commerzbank, which has announced its first dividend since 2007. And though unemployment in the country has fallen over the past couple of years, it’s still high at over 20 per cent and remains a brake on growth.

The figure was in line with expectations, and European markets remained higher after its release. Even with central banks around the world cutting interest rates and the European Central Bank considering adding to its stimulus, the heightened uncertainty is weighing on the prospects for Germany, the euro area’s largest economy.

The ECB is broadly expected to augment its efforts to fuel faster growth and stoke inflation in the 19-nation currency union when officials meet again next month. The Commerce Department said retail sales climbed by 0.2% in January compared to economist estimates for a 0.1% uptick.

Among the major eurozone economies, Germany gained 0.3% in the fourth quarter, unchanged from the third, while France slowed to 0.2% from 0.3%.

The 19-country eurozone is in its longest stretch of economic expansion since the global financial crisis in 2008 but growth remains paltry despite a series of tail winds and is susceptible to a reverse if the worst fears in financial markets come to fruition.

“With the exception of Spain, the fourth-quarter growth rates are clearly frustratingly modest to a central bank that has taken repeated steps to stimulate growth and augurs for further policy action in March.” said Chris Williamson, the chief economist at Markit.

Outside the eurozone, Britain rose to 0.5% from 0.4%.

The increases, seen across Europe, come at the end of what’s been a tumultuous week in financial markets with investors fretting over the scale of the global economic slowdown and the ability of banks to weather the storm.

Deutsche Bank climbed 12.16 percent despite Standard & Poor’s lowering its Tier 1 securities rating.

A bounce back in the price of oil is widely credited for the more positive tone in stock markets. A barrel of benchmark NY crude is 4.9 percent higher at $27.48.

Automaker Daimler rose 3.30 percent after making South Africa as the regional base for its new global truck and bus strategy.