(RTTNews.com) – The European markets rebounded Wednesday, following yesterday’s sell-off. Markets dropped yesterday after North Korea fired a missile over Japan. However, concerns over potential instability in the region have relaxed after U.S. President Donald Trump’s measured response to the launch.
The risk appetite among investors returned Wednesday, as traders exited the safe havens they flocked to on Tuesday. Gold stocks turned in a weak performance as gold prices pulled back from 11 month highs.
The pan-European Stoxx Europe 600 index advanced 0.76 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.46 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.61 percent.
In Frankfurt, Bertrandt jumped 5.95 percent as the engineering specialist reported a slight increase in revenues for the first nine months of the year.
Broadcaster RTL rose 2.21 percent after its Q2 revenue beat expectations.
In Paris, medical equipment supplier Biomerieux surged 8.04 percent after raising its sales and operating income targets for 2017.
In London, oilfield services company Petrofac dropped 2.29 percent after announcing its half-year results.
Insurer Baloise climbed 1.34 percent in Zurich after reporting strong first-half results.
Eurozone economic confidence reached its highest level in more than ten years in August, survey results from European Commission showed Wednesday. The economic confidence index rose to 111.9 in August from 111.3 in July. The score was forecast to rise slightly to 111.3 from July’s initially estimated value of 111.2.
German consumer prices rose for a fourth straight month and at the fastest pace in as many months in August, preliminary data from Destatis showed Wednesday. The consumer price index climbed 1.8 percent year-on-year following 1.7 percent increase in July. The rate was in line with economists’ consensus estimate.
The UK mortgage approvals increased to a 16-month high in July, the Bank of England reported Wednesday. The number of mortgage approvals rose to 68,689 in July from 65,318 in June. This was the highest since March 2016 and above the expected level of 65,000.
Shop prices in the United Kingdom were down 0.3 percent on year in August, the British Retail Consortium said on Wednesday. That follows the 0.4 percent contraction in July.
Private sector employment in the U.S. increased by more than anticipated in the month of August, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment jumped by 237,000 jobs in August following an upwardly revised increase of 201,000 jobs in July.
Economists had expected employment to climb by 185,000 jobs compared to the addition of 178,000 jobs originally reported for the previous month.
A report released by the Commerce Department on Wednesday showed U.S. economic activity increased by more than previously estimated in the second quarter. The Commerce Department said gross domestic product jumped by 3.0 percent in the second quarter compared to the previously estimated 2.6 percent growth.
Economists had expected a much more modest upward revision in the pace of GDP growth in the quarter to 2.7 percent.
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