By Investors Hub
European stocks are holding steady on Wednesday as firmer commodity prices and some solid earnings updates helped investors shrug off North Korea’s threat to scrap a historic summit next month between its leader Kim Jong Un and U.S. President Donald Trump.
While the German DAX Index has risen by 0.3 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are both up by 0.1 percent.
Burberry has rallied after the British luxury fashion house announced another share buyback after reporting full-year adjusted operating profits above analyst estimates.
Software company Micro Focus International has also jumped on saying the signing of a new $40 million (29 million pounds) licensing deal would help bolster its first-half revenue.
Leoni shares have moved to the upside in Frankfurt. The provider of energy and data management solutions in the automotive market reiterated its full-year outlook after its consolidated net income for the first quarter rose 19.1 percent.
Meanwhile, French catering and foodservice firm Elior has slumped after issuing a full-year profit warning.
In economic news, Eurozone inflation eased slightly in April, as estimated, final data from Eurostat showed. Inflation slowed to 1.2 percent in April from 1.3 percent in March. The rate came in line with the estimate published on May 3rd.
German consumer price inflation held steady in April, as previously estimated, final data from Destatis showed. Consumer prices climbed 1.6 percent year-on-year in April, the same rate of growth as seen in March and in line with the estimate released on April 30th.
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Adedapo Adesanya