European Stocks Slightly Higher Ahead of No-Deal Brexit Vote

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By Investors Hub

European stocks are flat to slightly higher on Wednesday as investors keep a close eye on Brexit proceedings.

A “free vote” will take place today on a no-deal Brexit. If that fails, a further vote on Thursday will decide whether to extend the Brexit deadline.

In economic news, Eurostat data showed that Eurozone industrial output rose 1.4 percent in January after dropping by 0.9 percent in December. Analysts had expected a 1 percent increase.

While the German DAX Index is lingering near the unchanged line, the U.K.?s FTSE 100 Index is up by 0.2 percent and the French CAC 40 Index is up by 0.4 percent.

Spanish fashion retailer Inditex has moved notably lower after its annual profits missed forecasts. Avast has also plunged in London on news its CEO will step down in June.

Wirecard has tumbled in Frankfurt after suspending an accounting employee in Singapore until the end of an investigation into allegations of fraud and creative accounting.

Hikma Pharma is also posting a significant loss after its 2018 results narrowly missed forecasts. Utility E.ON has also fallen after its fiscal 2018 net income dropped 18 percent.

On the other hand, Standard Life Aberdeen has advanced after ditching its unusual co-chief executive structure.

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