BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended on a strong note on Wednesday, rebounding from recent string of losses, amid optimism about global economic recovery thanks to fairly upbeat data on manufacturing activity from several countries across the world.
Optimism about potential coronavirus vaccines and hopes about stimulus packages from central banks and governments too contributed to the positive mood in the markets.
The pan European Stoxx 600 climbed 1.66%. The U.K.'s FTSE 100 advanced 1.35%, France's CAC jumped 1.9% and Germany's DAX rose 2.07%, while Switzerland's SMI ended 1.92% up.
Among other markets in Europe, Belgium, Denmark, Finland, Greece, Iceland, Netherlands, Poland, Portugal, Spain and Sweden closed higher.
Austria, Czech Republic, Ireland, Norway and Russia drifted lower and Turkey ended flat.
In the U.K. market, Barratt Developments soared 8.6%. After posting weak annual results, the U.K.'s largest housebuilder said it was seeing green shoots of recovery in the housing market.
Berkely Group shares gained about 5.2% and Persimmon rose nearly 5%. Rolls-Royce Holdings gained 4.8%.
Johnsnon Matthey, Meggitt, Severn Trent, Compass Group, ITV, Smiths, Hikma Pharmaceuticals, Taylor Wimpey and Diageo gained 3.5 to 5%. AstraZeneca gained about 1.2% on news it has begun a large-scale human trial of its coronavirus vaccine in the U.S.
Shares of Computacenter soared after the company said its successful trading performance seen in the first half of the year has continued for the first two months of the second half.
Fresnillo, Polymetal International and Barclays declined sharply.
In Germany, Wirecard shares skyrocketed more than 70%. Deutsche Telekom and Adidas gained about 5% and 4.3%, respectively.
Covestro, Continental, Linde, Fresenius Medical Care, Merck, Infineon Technologies, Fresenius, Vonovia and SAP gained 2 to 3%, while Lufthansa and Deutsche Bank declined 1.9% and 1.25%, respectively.
In the French market, Valeo climbed more than 7%. Kering gained about 5%. Hermes International, Sodexo, Airbus, ArcelorMittal, WorldLine, Vinci, Veolia, Essilor, LVMH, Safran, Air Liquide and Accor gained 2 to 3.5%.
Peronod Ricard surged up nearly 2.5% after the company predicted a prolonged downturn in travel retail but said it sees resilience in sales to supermarkets in the United States and Europe and a sequential improvement in China and India in the year ahead.
Saint Gobain moved up 2.3% after saying that it has acquired Strikolith in the Netherlands, a company specialized in the production of external insulation systems, interior finishings and renovation products and solutions.
Societe Generale tumbled nearly 3% and Credit Agricole lost about 1.2%. BNP Paribas and Publicis Groupe ended modestly lower.
Belgian real estate firm Aedifica rose sharply after it flagged little impact to its financial results from the Covid-19 pandemic.
In economic news, Eurozone producer prices continued to decline in July but the pace of annual fall slowed further, data from Eurostat showed. Producer prices fell 3.3% year-on-year in July, following a 3.7% decrease in June. Economists had forecast an annual fall of 3.4%.
Excluding energy, producer prices were down 0.4% annually versus a 0.5% drop a month ago.
The annual fall was largely driven by an 11.6% decrease in energy prices. Intermediate goods prices declined 2%.
German retail sales fell 0.9% month-on-month in July, defying expectations for a 0.5% increase, preliminary data showed.
U.K. house prices advanced by more-than-expected 2% on month in August, faster than the 1.8% rise seen in the previous month, data from Nationwide Building Society showed.
Separately, U.K. shop prices fell 1.6% from last year, following a 1.3% drop in July, data from the British Retail Consortium revealed.
Copyright RTT News/dpa-AFX