European Stock Markets Rebound to Close Higher

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By Investors Hub

European stocks have turned higher over the course of the trading day on Wednesday after moving lower earlier in the session.

While the German DAX Index has climbed by 0.7 percent, the U.K.?s FTSE 100 Index is up by 0.8 percent and the French CAC 40 Index is up by 0.9 percent.

According to data from Nationwide Building Society, U.K. house prices grew 2 percent year-on-year in June following May’s 2.4 percent increase. Nonetheless, the pace of growth was faster than the expected 1.7 percent.

Elsewhere, survey results from statistical office Insee showed that French consumer sentiment weakened in June to the lowest level in nearly a year. The consumer confidence index dropped to 97 from 99 in May, which was revised down from 100.

Costa Coffee owner Whitbread has rallied 2.2 percent after the company reported a 3.2 percent rise in first-quarter Group total sales.

Belgian biotechnology company ThromboGenics slumped 4.5 percent after the company announced its intention to change its name to “Oxurion NV”.

Shares of Xaar plunged around 13 percent in London after the provider of industrial inkjet technology warned on its legacy ceramics business performance, saying that it is likely that full-year expectation of revenues in the ceramics market will not be achieved.

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