European stocks closed higher on Wednesday as investors digested a fresh round of corporate earnings and key economic data out of the euro zone.
The pan-European Stoxx 600 ended up over 1.8%, with basic resources jumping 4.7% to lead gains as all sectors and major bourses closed in positive territory.
Euro zone business activity gathered pace in April, fueled by an expansion in the bloc’s dominant services sector. IHS Markit’s final composite PMI (purchasing managers’ index), a useful barometer of economic health, reading for April came in at 53.8 compared 53.2 in March. Anything above 50 represents expansion.
Euro zone producer prices rose 1.1% month-on-month in March, in line with expectations, Eurostat figures confirmed Wednesday.
Reference: CNBC
Thai
Eng