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European markets<\/span> closed higher on Wednesday, reacting positively to some upbeat earnings reports and encouraging economic data that indicate a fairly strong global economic rebound.<\/p>\n Mining stocks moved higher as copper prices rose past a key psychological level of $10,000 a ton, supported by prospects for higher demand. Energy stocks gained in strength, as crude oil prices surged higher on expectations of increased demand for oil.<\/p>\n Investors were also looking ahead to Bank of England’s monetary policy, due on Thursday.<\/p>\n Data from Eurostat showed Eurozone private sector growth continued for second consecutive month as manufacturing and services industries expanded. The IHS Markit composite purchasing managers’ index rose to 53.8 in April from 53.2 in March. That was slightly stronger than a preliminary reading of 53.7.<\/p>\n The pan European Stoxx 600 climbed 1.82%. The U.K.’s FTSE 100 moved up 1.68%, Germany’s DAX surged up 2.12% and France’s CAC 40 advanced 1.4%, while Switzerland’s SMI gained 1.26%.<\/p>\n Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Ireland, Netherlands, Poland, Portugal, Russia, Spain and Sweden closed with strong gains.<\/p>\n Czech Republic, Greece, Norway and Turkey ended modestly higher.<\/p>\n In the UK market, Anglo American Plc shares gained 6.3%. CRH, BHP Group, Rio Tinto, Glencore, Evraz, Taylor Wimpey, Informa, Barclays Group, Natwest Group, Croda International, Sainsbury J, Kingfisher and HSBC Holdings ended stronger by 3 to 5.4%.<\/p>\n Ocado Group, Land Securities, Avast and Just Eat Takeaway ended notably lower. McBride shares plunged 20% as the cleaning product supplier downgraded its annual earnings guidance, citing rising input costs and weaker sales.<\/p>\n In France, Saint Gobain, ArcelorMittal, Technip, Total, BNP Paribas and Renault gained 3 to 5%. STMicroElectronics, Hermes International, Schneider Electric, Vivendi, LVMH, Credit Agricole and Legrand also rose sharply.<\/p>\n Stellantis NV, the new auto group formed from the merger of Fiat Chrysler and PSA Group, rallied sharply after reporting better-than-expected quarterly revenue.<\/p>\n Sanofi shares declined more than 2.5%. Air France-KLM and Veolia also ended on a weak note. Veolia said it is ahead of 2021 objectives and plans to recover the pre-crisis dividend policy in 2021.<\/p>\n In the German market, shares of logistics firm Deutsche Post gained more than 4.5% after the company lifted its operating profit forecast for 2021.<\/p>\n Covestro, BASF, HeidelbergCement, Volkswagen, Thyssenkrupp, Linde, Siemens, Adidas, SAP, Allianz, E.ON, Bayer, RWE, Deutsche Telekom and Deutsche Bank gained 2 to 5.5%. Fashion house Hugo Boss surged higher after the company said it expects to double sales and remains optimistic of generating a positive EBIT in the second quarter.<\/p>\n Daimler declined sharply after Nissan Motor decided to sell all 1.54% of shares in the German carmaker owned by Renault Motors in France. Data from the Federal Statistical Office showed Switzerland’s consumer prices rose for the first time in fifteen months in April, increasing by 0.3% year-on-year, after a 0.2% fall in March. This was in line with economists’ expectations.<\/p>\n On a monthly basis, consumer prices rose 0.2% in April, after a 0.3% increase in the previous month. <\/p>\n<\/p>\n<\/div>\n
Lufthansa and Fresenius Medical Care also ended weak.<\/p>\n