Economic news

European stocks rise amid German robust growth

European stocks edged up in morning trade on Wednesday, supported by impressive results and German economic figures as investors waited for U.S. inflation report for January.

Photo: Reuters

The Stoxx Europe 600 index gained 0.8% to 373.49.

Germany’s DAX 30 index ticked up 0.8% to 12,293.25, and France’s CAC 40 index advanced 0.8% to 5,148.47. The UK’s FTSE 100 surged 0.7% to 7,220.19.

The shares of Credit Suisse Group AG rose 3.8%. The bank reported a net loss in 2017 for the third consecutive year due to write-offs in the 4th quarter related to changes to the U.S. tax code.

Germany’s gross domestic product grew by 0.6% in three months to December. Europe’s biggest economy expanded by 2.9% on an annualized basis.

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