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Market Update

European Stocks Rally on Earnings

Shares in Europe edged up Wednesday, boosted by a string of positive earnings announcements from companies, and after Asian markets climbed in early trade.

At 1:30 p.m. (I.S.T.), Britain's FTSE, France's CAC and Germany's DAX rose 1.5% to 1.6%.

In stocks in news, PSA Peugeot Citroen rose 3.2% while AMSL Holding jumped 5.3% after declaring their respective results. Home Retail Group rose 3.9% after posting earnings.

Miners BHP Billiton, Rio Tinto and Xstrata 2.2% to 3% tracking strength in global metal prices.

Shares in Chaucer Holdings rose 2.4% after the firm agreed to be acquired by Hanover for $510 million.

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