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European stocks advanced on Wednesday after China’s central bank announced that it would cut the amount of cash that banks must hold as reserves by 50 basis points from February 5 for the first time this year to help the economy<\/span>.<\/p>\n Also, media reports suggest that authorities are considering a package of measures to stabilize China’s slumping stock market.<\/p>\n Investors also digested the latest business<\/span> activity readings from the region and waited for cues from the upcoming ECB meeting.<\/p>\n The pan European STOXX 600 limbed 0.8 percent to 475.06 after declining 0.3 percent on Tuesday. <\/p>\n The German DAX rallied 0.9 percent, France’s CAC 40 rose half a percent and the U.K.’s FTSE 100 was up 0.3 percent. <\/p>\n Ericsson tumbled 3.6 percent after the telecoms equipment supplier said it expects further decline in 5G gear demand from mobile operators this year.<\/p>\n Chipmaking equipment maker ASML Holding soared 6.2 percent after fourth-quarter earnings beat expectations. <\/p>\n Barry Callebaut, the world’s biggest chocolate maker, added 1.6 percent after sales volumes rose slightly in the three months to the end of November. <\/p>\n EasyJet jumped nearly 5 percent after the low-cost carrier said it expected winter losses to narrow this year.<\/p>\n Pub group J D Wetherspoon fell about 1 percent despite reporting higher sales in the last 25 weeks.<\/p>\n Tullow Oil climbed 1.1 percent after an announcement that it expects 2023 production to top previous guidance.<\/p>\n Fresnillo jumped 5.2 percent after it reported higher silver production for 2023. German equipment manufacturer Siemens Energy jumped more than 8 percent after posting forecast-beating Q1 results.<\/p>\n Software company SAP soared 6.3 percent after it announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n
French rolling stock maker Alstom slumped 5.1 percent after Q3 sales missed estimates.<\/p>\n