{"id":29763,"date":"2023-01-04T09:43:47","date_gmt":"2023-01-04T09:43:47","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/01\/04\/european-shares-extend-gains-for-third-day-2\/"},"modified":"2023-01-04T09:43:47","modified_gmt":"2023-01-04T09:43:47","slug":"european-shares-extend-gains-for-third-day-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/01\/04\/european-shares-extend-gains-for-third-day-2\/","title":{"rendered":"European Shares Extend Gains For Third Day"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks rose for a third day running on Wednesday, even as U.K. markets<\/span> underperformed amid a decline in commodity-related stocks. <\/p>\n

A measure of French inflation unexpectedly slowed in December and the euro area’s final composite PMI saw a slight upward revision versus the preliminary estimate, helping underpin regional sentiment. <\/p>\n

Elsewhere, German import price inflation weakened more than expected to the lowest in nearly one-and-a half years in November, Destatis said. <\/p>\n

Traders now await the release of the minutes from the Fed’s Dec. 13-14 policy meeting later in the day as well as other key economic data expected to offer additional clues about the economic and interest-rate outlook.<\/p>\n

The pan European STOXX Europe 600 rose 0.8 percent to 437.70 after rallying 1.2 percent in the previous session. <\/p>\n

The German DAX and France’s CAC 40 index both jumped around 1.3 percent, while the U.K.’s FTSE 100 was little changed with a positive bias. <\/p>\n

Dutch carmaker Stellantis NV rose half percent. The company today announced the launch of Chrysler brand’s Chrysler Synthesis Cockpit demonstrator to offer a mobility experience that is more user-friendly, more connected and more efficient.<\/p>\n

Swiss power supplier BKW surged 4.2 percent after saying it expects “outstanding” result for full-year 2022.<\/p>\n

Oil & gas firm BP Plc lost 3 percent and Shell declined 2.7 percent in London, as oil prices fell nearly 2 percent in European trade, after having fallen more than 4 percent in the U.S. trading session amid a deteriorating fuel demand outlook in China.<\/p>\n

Miners Anglo American and Antofagasta both fell around 1 percent while commodity trading and mining firm Glencore lost nearly 5 percent.<\/p>\n

Banks HSBC Holdings and Barclays rose around 1 percent each on expectations that they would benefit from higher interest rates.<\/p>\n

Sanofi shares gained 0.6 percent in Paris. The healthcare firm said it expects a boost from foreign exchange movements and flu vaccine sales in its fourth-quarterly results, due to be published next month. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n