European shares rise in early trading, Germany lags broader rally

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Feb 5 (Reuters) - European stocks rose on Friday, tracking an upbeat sentiment from Wall Street on hopes of faster global economic recovery, while Frankfurt shares lagged after data showed a decline in industrial orders.

The STOXX 600 gained 0.2% and was set for its longest winning streak since late December. The index is also up 3.5% for the week, on track for its best weekly performance since November.

Markets around the world were higher on expectations of a large stimulus by U.S. President Joe Biden’s administration.

Germany’s DAX index fell 0.1% after data showed orders for German-made goods fell more than expected in December, ending a seven-month streak of positive data as restrictions to contain the COVID-19 pandemic dragged down demand from other euro zone countries.

Sanofi SA gained 2.6% as the French drugmaker said it aimed to grow earnings per share this year after posting stronger-than-expected quarterly results.

BNP Paribas fell 0.4% as charges linked to the pandemic ate into the lender’s net profit in the fourth quarter. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)