LONDON: European stock markets edged higher yesterday, building on the previous day’s gains as upbeat earnings reports eclipsed ongoing concerns about conflicts in Ukraine and Gaza.
London’s FTSE 100 index climbed 0.04 per cent to stand at 6,797.86 points in midday deals. Frankfurt’s DAX 30 gained 0.23 per cent to 9,756.59 points and Paris’ CAC 40 advanced 0.41 per cent to 4,387.55.
Craig Erlam, market analyst at Alpari traders, said investors were more concerned about economic data and the earnings season than geopolitical problems.
“That’s not to say that both of these don’t have the potential to cause further disruptions and weigh further on investor sentiment. It just means that the risk associated with these events is fully priced-in,” he added.
Spain’s central bank reported the eurozone’s fourth-biggest economy grew at its strongest rate for six years in the second quarter, expanding by 0.5 per cent from the previous three months. AFP