European Stocks Rise on to Positive Data From Germany And AstraZeneca

European stocks rose on Wednesday, February 24th, supported by better-than-expected growth for the German economy, but gains were limited by concerns about a possible increase in inflation and higher equity valuations.

Official data showed that rising exports and strong construction activities helped the German economy grow at a stronger rate than expected at 0.3% in Q4 last year.

The benchmark Stoxx600 index of euro zone stocks rose 0.2%, while travel and construction stocks led the gains.

AstraZeneca fell 1.3% after the company informed the European Union that it expects to deliver Covid-19 vaccines, which are less than the company contracted to supply in the second quarter, an official in the consortium told Reuters.