Investing.com - European stocks remained higher on Wednesday,
after the World Bank raised its global growth forecast and as
Tuesday's upbeat U.S. and euro zone data broadly continued to
support equity markets.
During European afternoon trade, the EURO STOXX 50 advanced
0.76%, France's CAC 40 climbed 0.64%, while Germany's DAX 30 jumped
Equities strengthened after the World Bank increased its global
growth forecasts, predicting the world economy will expand 3.2%
this year, compared to a previous projection of 3% and up from 2.4%
Equity markets were also boosted on Tuesday after the Commerce
Department that U.S. retail sales rose 0.2% in December, while core
retail sales, which excludes auto sales, rose 0.7%.
Financial stocks were broadly lower, as French lenders BNP
Paribas and Societe Generale rallied 1.91% and 2.76%, while
Germany's Deutsche Bank climbed 1.56%.
Among peripheral lenders, Spanish bank BBVA jumped 1.80%, while
Italy's Intesa Sanpaolo and Unicredit advanced 1.64% and 1.88%
Elsewhere, Hennes & Mauritz surged 2.15% after the clothing
retailer posted a 10% increase in total sales in December,
exceeding the 9.1% rise expected by analysts.
In London, FTSE 100 rose 0.37%, led by a 6.36% jump in Burberry
shares after the U.K. luxury-goods maker posted quarterly revenue
that topped analysts' estimates.
Financial stocks were also on the upside, as HSBC Holdings
climbed 0.42% and Barclays advanced 1.17%, while Lloyds Banking and
the Royal Bank of Scotland rallied 1.33% and 1.87%
In the mining sector, stocks were mixed. Vedanta Resources
dropped 0.48% and Fresnillo plummeted 3.05%, while Glencore Xstrata
gained 0.54% and Rio Tinto advanced 0.98%.
In the U.S., equity markets pointed to a higher open. The Dow
Jones Industrial Average futures pointed to a 0.21% rise, S&P
500 futures signaled a 0.17% gain, while the Nasdaq 100 futures
indicated a 0.35% increase.
Also Wednesday, data showed that German gross domestic product
grew by 0.4% in 2013, following growth of 0.7% in 2012. Analysts
had been expecting growth of 0.5%.
Later in the day, the U.S. was torelease data on producer price
inflation and a report on manufacturing activity in the New York
offers an extensive set of professional tools for the financial
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