European stocks close higher
The Peninsula
Brussels: European stocks closed higher at the end of trading Wednesday, supported by profits from banks and food companies, despite continued caution...
Brussels: European stocks closed higher at the end of trading Wednesday, supported by profits from banks and food companies, despite continued caution over inflation data and US trade policies.
The European Stoxx 600 index rose 0.1% at the end of a volatile session, with the German benchmark index also rising to a record high.
The European banking index led the sector gains, rising 1.1%, supported by Dutch bank ABN Amro, which jumped 8.2% to its highest level in more than five years after the bank's fourth-quarter results exceeded market expectations.
The food and beverage sector came in second, rising 1%.
On the other hand, dividend-paying utilities shares fell 1% amid rising European bond yields, after US data showed consumer prices rose by the most in about a year and a half in January, reinforcing expectations that the US Federal Reserve (the central bank) may announce only one interest rate cut this year.
