Quantcast
Featured Image

European equity benchmarks were advancing on Wednesday morning with media companies among the biggest gainers against a backdrop of data showing continued expansion in Germany's economy and rising consumer prices.

In economic news, gross domestic product rose by 0.6% in German in the fourth quarter, which taken together with the previous quarters' growth rates, resulted in an annualized growth rate of 2.2%, according to data published by Destatis, the federal statistics agency. Separate data published by the agency showed that consumer prices wee up by 1.6% in January.

In equities, bottling company Cola-Cola HBC Ag (CCH.L) was leading the gainers, 3.5% higher on London's FTSE 100 Index, followed by telecommunications company Sky (SKY.L), up by 3.1% and Antofagasta (ANTO.L), a miner, trading 2.3% higher. Old Mutual (OML.L), a provider of financial services, was up by 2.2%.

On Frankfurt's DAX, housing association Vonovia (VNA.DE) was 2.5% higher, energy company RWE (RWE.DE) was up by the same amount and TV company ProSiebenSat1 Media (PSM.DE) was 2.0% higher. SAP (SAP.DE), a technology company, was up by 1.8%. And, on Paris' CAC-40, advertising ang public relations company Publicis (PUB.PA) was 2% higher, mass media conglomerate Vivendi (VIV.PA) was 1.8% higher and Kering (KER.PA), a retailer of designer goods, was up by 1.5%.

The pan-European Stoxx 600 Index was 0.83% higher, London's FTSE 100 Index was up by 0.68%, Frankfurt's DAX was 0.88% higher and Paris' CAC-40 was up by 0.70% at the time of writing.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.

More from MT NEWSWIRES

Related Articles