European Stocks Close Higher on Positive Data

European stocks closed higher on Wednesday, supported by positive economic data and a good performance by most market sectors.

The STOXX Europe 600 index rose by 0.45% to close at 413.19 points.

The German DAX finished higher by 0.80%, while the French CAC40 index gained 0.31%.

Meanwhile, the UK’s FTSE100 rose by 0.50%.

Earlier today, data showed that the German economy achieved a better than expected growth rate during the fourth quarter of 2020.

The largest economy in Europe grew by 0.3% in Q4 of 2020, supported by exports and a decent performance by the construction activity.