FXStreet (Mumbai) – The stock markets across Europe advanced on Wednesday on account of a rebound in travel companies.
The pan-European Euro Stoxx 600 index was up 0.60% at the time of writing. The blue chip Euro Stoxx 50 added almost 1%. Among regional indices, Germany’s DAX was up 1%, followed by a 1.2% rise in France’s CAC.
Among Euro Stoxx 600 index, Thomas Cook Group was the top gainer; up 10%, while shares in National Bank of Greece were down more than 20%. Deutsche Lufthansa AG added 3.6% and TUI AG climbed 2.2%.
UK builders Persimmon Plc, Berkeley Group Holdings Plc and Taylor Wimpey Plc rose more than 2% each ahead of Chancellor of the Exchequer George Osborne’s Spending Review presentation to Parliament. Osborne is expected to boost the home ownership program.
Risk-on sentiment had taken a hit yesterday after after Turkey’s military shot down a Russian warplane, with Russian President Vladimir Putin pledging “serious consequences” for the attack. However, the US markets recovered from the initial dip and thus stabilized risk sentiment in the market.
(Market News Provided by FXstreet)