Market Update
European markets were up Wednesday after some well-received earnings reports added to an upbeat sentiment brought on earlier by Chinese trade data.
The FTSE edged up 0.2%. The CAC 40 Paris was up 0.5% while the German DAX gained 0.6%.
Earlier, data showed consumer price inflation in Switzerland declined in line with expectations. Euro-zone data on industrial production is due later.
Stocks on the Move
Financial stocks were mostly higher with RBS up 0.6% and HSBC up 0.7%. Barclays PLC was down about a percent, extending declines.
Morrison Supermarkets picked up 2.8% after reports the founding family had contacted private equity funds.
Miners were higher, benefitting from the Chinese trade data, the world’s largest consumer of metals. Anglo-American PLC rose 1.3% while Aussie miner BHP Billiton was up 1.4%.
Dutch drinks group Heineken was up 2.3% after it projected a return to revenue growth this year.
French lender Societe Generale advanced 4.6% after it swung back to profit in its fourth quarter, almost double what analysts were expecting.
Total SA climbed 1.4% after the company reported a 19% fall in profit and raised dividend.
Deutsche Bank was up 1.3%.