\n<\/p>\n
European stocks closed higher on Wednesday, lifted by hectic bargain hunting at several counters and on data showing an improvement in German consumer sentiment.<\/p>\n
Investors awaited the release of minutes from the Federal Reserve’s most recent policy meeting for more clues about the pace of tightening.<\/p>\n
The pan European Stoxx 600 gained 0.63%. The U.K.’s FTSE 100 climbed 0.51%, Germany’s DAX advanced 0.63% and France’s CAC 40 surged up 0.73%, while Switzerland’s SMI edged up 0.07%.<\/p>\n
Among other markets<\/span> in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Ireland, Netherlands, Norway, Portugal, Russia, Spain and Turkey ended with sharp to moderate gains.<\/p>\n Denmark, Poland and Sweden closed weak, while Iceland ended slightly up.<\/p>\n In the UK market, SSE surged up 5.75% after reporting a sharp rise in annual profit. Rolls-Royce Holdings gained 4.3%, while WPP, Kingfisher, Imperial Brands, Associated British Foods, Pershing Square Holdings, British American Tobacco, RightMove, IAG, Coca-Cola HBC, Auto Trader Group, Anglo American Plc and Scottish Mortgage gained 2 to 3.5%.<\/p>\n JD Sports Fashion drifted down more than 6%. Severn Trent, Prudential, United Utilities, Endeavour Mining, Fresnillo, Avast, Relx and Tesco lost 1 to 2.5%.<\/p>\n In the German market, HelloFresh rallied 5%. Continental, RWE, HeidelbergCement, Covestro, BASF, Deutsche Bank, Deutsche Post, Volkswagen, Puma, E.ON and Fresenius Medical Care, MTU Aero Engines, BMW and Deutsche Telekom gained 1 to 2.3%.<\/p>\n Nordex slumped 17% after the wind turbine manufacturer revised down its outlook for this year, due in part to restructuring costs and the war in Ukraine.<\/p>\n In Paris, Faurecia climbed 5.7%. Safran gained nearly 3% and Air France-KLM advanced 2.75%. Renault, Airbus, Credit Agricole, WorldLine, Veolia, Saint Gobain, ArcelorMittal, Legrand, Michelin and Engie also moved up sharply.<\/p>\n Sodexo ended lower by nearly 5% and Societe Generale shed about 2.7%.<\/p>\n A report from market research group Gfk said a measure of German consumer sentiment edged up from an all-time low in May. Gfk said its forward-looking consumer sentiment index rose to -26.0 in June from a revised -26.6 in May. The latest survey was conducted from May 5 to 16.<\/p>\n Germany’s economy<\/span> logged a modest growth in the first quarter as the expansion in investment was partially offset by the contraction in exports and household spending, detailed data from Destatis showed on Wednesday.<\/p>\n Gross domestic product grew 0.2 percent sequentially in the first quarter, in contrast to the 0.3 percent decline seen a quarter ago.<\/p>\n Although mild, the expansion helped the economy to avoid a technical recession.<\/p>\n On a yearly basis, GDP advanced by a price-adjusted 4.0 percent, faster than the 1.8 percent growth registered in the fourth quarter.<\/p>\n France’s consumer confidence weakened unexpectedly in May, though less sharply than in the prior two months, survey results from the statistical office INSEE showed.<\/p>\n The consumer sentiment index dropped marginally to 86 in May from a revised reading of 87.0 in April. Economists had expected the index to improve to 89.<\/p>\n The index showed a decline for the fifth successive month and remained below its long-term average of 100. <\/p>\n<\/p>\n<\/div>\n