Europe open: Stocks gain as German consumer confidence rises
European stocks advanced after a report showed German consumer confidence rose more than forecast.
GfK’s forward-looking consumer confidence index climbed to 9.0 in January from 8.7 in December, exceeding market estimates for a reading of 8.8.
Separately, GfK’s index for UK consumer sentiment fell to -4 in December from -2 the previous month. Analysts had been anticipating a slight improvement to -1.
In a boost to markets, the Bank of Japan painted a bright picture of the economy as it maintained its stimulus, seven weeks after expanding the programme.
China, meanwhile, revised up the size of its economy in 2013. Gross domestic product gained 3.4% to an estimated 58.8trn yuan in 2013, the National Bureau of Statistics said, marking a rise of 1.9trn yuan.
Swiss index continues rally
The Swiss Market Index extended its two-day gain after the nation’s central bank took its deposit rate negative. A gauge of bank stocks edged higher, led by Switzerland’s UBS Group AG and Julius Baer Group.
Air France declined after the airline pushed back delivery of some aircraft in the next two years to contain costs.
Roche Holding AG slumped as the drugmaker announced disappointing results from a clinical trial that combined two of its breast-cancer drugs.
Atos was a higher riser after agreeing to buy Xerox Corp.’s information-technology outsourcing business for $1.05bn.
Brent crude futures rose 0.43% to $59.53 per barrel, according to the ICE.
The euro fell 0.03% to $1.2282.