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Aug 16 Reuters European shares gained for the fourth straight session on Friday, as upbeat risk sentiment prevailed across global markets following a strong U.S. retail sales data.

The panEuropean STOXX 600 was up 0.3 at twoweek highs. The benchmark index was on track for its best week since May 6.

London39;s FTSE 100 ticked 0.2 lower after British retail sales rose 0.5 in July, in line with forecasts.

Almost all regional bourses were trading in the green, with Italy39;s FTSE MIB outperforming peers with a 2.1 gain.

The automobile sector rose 1.3 boosted by gains in Ferrari which rose 2.7 and Stellantis that gained 3 despite the EuropeanAmerican automaker being sued by shareholders in the U.S. who said the firm defrauded them by concealing rising inventories and other weaknesses.

U.S. retail data overnight signalled resilient consumer spending, allaying fears of an imminent recession in the world39;s largest economy.

Investor sentiment stumbled in early August as a weak U.S. jobs report sparked fears of a looming recession and led to a global equity selloff.

The STOXX 600 has since rebounded, erasing all losses as a series of positive U.S. economic data eased recession worries.

Markets will look forward to next week39;s Jackson Hole event in Wyoming, one of the premier global central bank gatherings where Federal Reserve Chair…