European stock markets are moving positively on Wednesday as investors try to recover from the big losses of the previous day, drawing impetus from the encouraging data announced today in Germany.
Global markets have been rocking sharply in recent weeks as investors worry about the risk of a major slowdown or even recession in the coming months amid tightening monetary policy by central banks to stem inflation. At the same time, the war in Ukraine and the lockdowns in China are intensifying downward pressures on the economy, destroying supply chains.
On the board, the pan-European STOXX 600 index gained 0.9% to 435.35 points.
The German DAX strengthened 0.7% to 14,025.52 points after data showed that the German economy grew in the first quarter despite the Russian invasion of Ukraine that hit private consumption and manufacturing.
According to the second estimate for the period announced today by Destatis, German GDP grew by 0.2% on an adjusted basis, from the previous quarter. On an annual basis, GDP ran at a rate of 3.8% on an adjusted basis.
The French CAC 40 rose 0.6% to 6,293.31 points, while the British FTSE 100 gained 0.7% to 7,533.72 points.
In the region, the Italian FTSE MIB and the Spanish IBEX 35 gain 1.1%.
Source: Capital
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