{"id":35857,"date":"2023-06-28T09:33:55","date_gmt":"2023-06-28T09:33:55","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/06\/28\/european-shares-edge-higher-on-economic-optimism-2\/"},"modified":"2023-06-28T09:33:55","modified_gmt":"2023-06-28T09:33:55","slug":"european-shares-edge-higher-on-economic-optimism-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/06\/28\/european-shares-edge-higher-on-economic-optimism-2\/","title":{"rendered":"European Shares Edge Higher On Economic Optimism"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks advanced on Wednesday as a slew of upbeat U.S. economic data released overnight soothed concerns about an economic downturn.<\/p>\n<p>Meanwhile, investors shrugged off the results of a key survey showing that German consumer confidence has fallen for the first time since October.<\/p>\n<p>Pollster GfK said its forward-looking survey of around 2,000 people fell to minus 25.4 points in July from 24.4 points in June.<\/p>\n<p>Elsewhere, a measure of France&#8217;s consumer confidence climbed to 85 in June from 83 in May.<\/p>\n<p>Market participants now await a panel discussion of central bankers in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chair Jerome Powell, Bank of Japan Governor Kazuo Ueda and Bank of England&#8217;s Andrew Bailey later in the day for further policy direction.<\/p>\n<p>The pan-European STOXX 600 was up half a percent at 455.31 after ending flat with a positive bias on Tuesday.<\/p>\n<p>The German DAX and France&#8217;s CAC 40 both climbed around 0.7 percent, while the U.K.&#8217;s FTSE 100 added half a percent. <\/p>\n<p>Travel stocks surged on optimism about U.S. economic growth. Airline EasyJet rose about 1 percent, Lufthansa rose half a percent and Wizz Air Holdings climbed 2.3 percent.<\/p>\n<p>Software firm Sage soared 4.5 percent after a brokerage upgrade.<\/p>\n<p>Mulberry Group jumped 3.2 percent after reiterating its full-year guidance.<\/p>\n<p>Swiss banking group UBS was marginally higher after it unveiled plans to cut more than half of Credit Suisse Group AG&#8217;s workforce.<\/p>\n<p>Swiss Life Holding AG declined 2.6 percent. The life insurance firm said it is well on track to achieve its 2024 financial targets.<\/p>\n<p>Equinor ASA, a petroleum company, edged up slightly after Norwegian authorities approved its plans to develop and operate subsea fields- Irpa and Verdande, and the production well Andvare.<\/p>\n<p>French supermarket chain Carrefour rallied 3.5 percent after Morgan Stanley initiated coverage with an &#8220;overweight&#8221; rating. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Edge Higher On Economic Optimism<\/a><br \/>\n<br \/>2023-06-28 09:33:55<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks advanced on Wednesday as a slew of upbeat U.S. economic data released overnight soothed concerns about an economic downturn. Meanwhile, investors shrugged off the results of a key&#8230;<\/p>\n","protected":false},"author":2,"featured_media":35858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-35857","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/35857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=35857"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/35857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/35858"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=35857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=35857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=35857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}