(MENAFN– ecpulse)
European shares rose on Wednesday midday trading, rebounding from three-week low, ahead of the release of important U.S. data which is likely to give further clues about the health of the world’s biggest economy.
With the beginning of the earnings season, companies from Tesco Plc to Syngenta AG reported their financial results, where attention will shift to U.S. fundamentals.
Housing starts may show a rise to 970,000 in March from 907,000 a month earlier, while industrial production will probably gain 0.5 percent from the prior 0.5 percent advance.
Later in the day, Fed`s Yellen will speak to Economic Club of New York and Fed will release its Beige Book.
While investors are nearly sure the Fed would continue with its stimulus reduction plan, there is uncertainty about the timing of raising interest rates.
In the U.K., a report released today showed that unemployment unexpectedly slipped below the BOE’s threshold of 7 percent to 6.9 percent in the quarter through February.
As of 06:28 EST, STOXX EUROPE 600 soared 0.75% to record 329.04 points. Consumer services led the advance with a rise of 0.98%, followed by Health Care, which recorded 0.96% rise.
The highest shares were for GEA Group AG as it advanced 5.83% to 32.20 EUR, while the biggest drop was recorded by Amlin PLC as its shares plummeted 4.85% to 443.20 GBP.
Looking at other the major European indices, Germany’s DAX index advanced 0.84% to 9512.12 points, while the French CAC index rose 0.91% to 4385.07 levels. Britain`s FTSE 100 index recorded 0.36% rise to 6564.94 points.
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