European markets were higher Wednesday supported by a better-than-expected reading of an important German economic sentiment indicator.
The German research institute Ifo's business climate index rose to a 20-month high to a seasonally adjusted 109.5 in December in line with expectations and up from a reading of 109.3 in November. The business expectations index that measures attitude to business prospects for the next six months – rose to 107.4 in December from 106.4 in November, beating expectations for a reading of 106.5.
Investors are also focused on the outcome of the U.S. Fed's final policy meeting before the end of 2013, with many expecting the central bank to announce a small reduction in its stimulus measures.
Stocks on the Move
Swedish home-appliances maker Electrolux gained 2.3%, helped by strong U.S. deliveries data.
Bwin.party Digital Entertainment PLC was up over 4% in London after the online gambling firm said its outlook for 2014 remained positive.
Technip dropped about 6% in Paris after the company said it expects a weaker profit at its subsea division next year.
In Frankfurt, Deutsche Bank was down over half a percent.
Rouhan Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.