European stock markets advanced for a fourth straight day on Wednesday on optimism over outlook the global economy after the World Bank said growth will pick up pace in 2014.
The Stoxx Europe 600 index gained 0.5% to 332.83.
Germany’s DAX 30 index rallied 0.9%. France’s CAC 40 index rose 0.6% and the U.K.’s FTSE 100 index picked up 0.4%.
Among stock movers in the pan-European index, shares of Burberry Group PLC rallied 6.4% after the luxury-goods firm reported a 14% rise in retail revenue in the third quarter.
Shares of Hennes & Mauritz AB rose 2% after the Swedish fashion retailer said total sales climbed 10% in December.
On a more downbeat note, food producers declined after some broker downgrades. Shares of Danone SA dropped 1.1% in Paris after J.P. Morgan Cazenove cut the firm to neutral from overweight, and Unilever PLC gave up 0.8% after the same bank downgraded the company to underweight from neutral.
More broadly, investors welcomed a fresh economic-growth forecast from the World Bank.
The World Bank raised its global growth forecast yesterday to 3.2% this year from a June estimate of 3%.
In Europe, the German federal statistics office Destatis said growth in the euro zone’s largest economy slowed in 2013 amid the currency union’s crisis. Germany’s price-adjusted gross domestic product expanded 0.4% in 2013 after increasing 0.7% the previous year.
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