Europe Stocks Key Off Asia Gains; Burberry Rally

By Amwal Al Ghad English On Apr 17, 2013

European stock markets were on track to break a three-day losing streak on Wednesday, with beverage firms and banks in the driver’s seat, as investors took inspiration from Asia where Japanese shares rose after the International Monetary Fund lifted the country’s growth forecast.

The Stoxx Europe 600 index added 0.3% to 288.98. Shares of Burberry PLC jumped 4.7%, after the luxury retailer reported a rise in second-half comparable sales. Drinks maker Diageo PLC gained 1.3%, while SABMiller PLC put on 0.9%. Among banks on the rise, BNP Paribas SA picked up 0.7% in Paris and Standard Chartered PLC climbed 1.2% in London. The U.K.’s FTSE 100 index gained 0.1% to 6,312.56, while France’s CAC 40 index added 0.3% to 3,696.41. Germany’s DAX 30 index traded 0.2% higher at 7,696.37.

Marketwatch