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European stocks rebounded on Wednesday, with banks and miners leading the surge. <\/p>\n
The pan European STOXX 600 rose about 1 percent to 462.96 after declining 0.2 percent on Tuesday. <\/p>\n
The German DAX climbed 1.2 percent, France’s CAC 40 added 1.4 percent and the U.K.’s FTSE 100 was up 0.8 percent. <\/p>\n
The euro edged up against the dollar ahead of U.S. inflation readings due this week that might influence the Fed’s rate trajectory.<\/p>\n
Italian lenders Intesa Sanpaolo and UniCredit jumped 3-4 percent after the country’s finance ministry clarified that that the new windfall tax on banks would not amount to more than 0.1 percent of their assets.<\/p>\n
Monte dei Paschi di Siena and Banco BPM jumped around 4 percent each while Commerzbank, Deutsche Bank and BNP Paribas were up 2-3 percent. <\/p>\n
Dutch lender ABN Amro fell 2.3 percent after delaying a decision on share buybacks to the last quarter.<\/p>\n
Miners Anglo American, Antofagasta and Glencore climbed 1-2 percent in London after data showed China’s consumer prices slipped into deflation territory in July amid weakening domestic demand, raising hopes for more policy stimulus.<\/p>\n
Flutter Entertainment shares fell over 5 percent despite the online betting firm reporting a return to profitability for the first half of the year.<\/p>\n
Coca-Cola HBC rose nearly 2 percent after the bottling firm lifted its FY23 organic revenue growth view and backed EBIT forecast.<\/p>\n
Infrastructure products group Hill & Smith soared 7 percent after delivering a record trading performance in its first half.<\/p>\n
Vestas Wind Systems, the world’s leading manufacturer of wind turbines, rallied 2.6 percent after narrowing its Q2 loss and maintaining FY23 outlook. <\/p>\n
Delivery Hero jumped 9.5 percent after the German online takeaway food company upgraded its revenue guidance.<\/p>\n
Automotive parts manufacturer Continental added 1.8 percent despite cutting its sales outlook for the year. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div>\n