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December 27, 2023
14:32 PM
European shares rise on China data and Wall Street gains
European stocks edged higher on Wednesday, with mining shares higher on strong Chinese data, while technology shares gained support from gains on Wall Street.
The European STOXX 600 index rose 0.1% to 477.83 points, while the main Wall Street indices gained more than 0.4% last night.
The basic resources sector was one of the biggest winners, rising 0.4%, and prices of most base metals and iron ore rose after data showed improved manufacturing activity in China, a key consumer last month. Energy stocks also rose 0.6%.
The technology sector, which includes Europe's major chipmakers, led Wall Street firms up 0.7%.
But telecom and insurance sectors each fell 0.4%, limiting gains.
With only a few trading days left in 2023, trading is expected to be thin as traders return from the Christmas break.
Shares in Bayer rose 1.7% after the German pharmaceuticals and pesticides maker said it had won a lawsuit filed by a California man. (Reuters)
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