European stocks rose on Wednesday, heading for a second straight month of gains, boosted by lower-than-expected inflation in the euro zone and hopes of easing Covid-related restrictions in China.
Widespread gains sent the pan-European STOXX 600 index soaring after three consecutive sessions in the red. The index’s nearly 7% rise in November puts it on track to mark its best month since July.
Luxury stocks were among the biggest boosters for the STOXX 600 on Wednesday, followed by technology and auto stocks.
“Optimism about China reopening is really starting to spread,” said Giles Coghlan, chief market analyst at HYCM.
He said investor confidence is rising with the Chinese government’s acceleration of vaccination plans and a softer stance by health authorities on the country’s Covid control policies.
Meanwhile, data showed that consumer prices in the euro zone rose 10.0% in November, following a 10.6% rise in October. The figure was well below expectations of 10.4% in a Reuters poll of analysts, bolstering arguments for a slowdown in European Central Bank rate hikes next month.
🇧🇷 The FTSEurofirst 300 index was up 0.67% to 1,739 points.
🇧🇷 In LONDON, the Financial Times index advanced 0.53%, to 7,551 points.
🇧🇷 In FRANKFURT, the DAX index was up 0.30% to 14,398 points.
🇧🇷 In PARIS, the CAC-40 index gained 0.52%, at 6,703 points.
🇧🇷 In MILAN, the Ftse/Mib index appreciated by 0.40%, at 24,564 points.
🇧🇷 In MADRID, the Ibex-35 index registered an increase of 0.20%, to 8,339 points.
🇧🇷 In LISBON, the PSI20 index appreciated by 0.47%, to 5,858 points.
Source: CNN Brasil
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