European stock markets close higher, British companies led in London

European stock markets ended higher after swinging closer to stability late this morning on Wednesday (27). Back from vacation, on a day with a weak schedule, motivation was moderate. In London, Anglo American showed more strength after pleasing investors on news that it intends to sell a stake in a project in the United Kingdom.

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Earlier, Asian stock markets closed positive following Chinese industrial profit data that gained momentum in November. The European trading session started on a more positive tone, but a mixed picture prevailed throughout the morning before indices recovered their gains.

The London Stock Exchange ended 0.36% higher at 7,724.95 points, while Anglo American shares gained 2.55%. The Times reported that the company may divest a minority stake in the Woodsmith fertilizer mine in North Yorkshire.

Hargreaves Lansdowne, via London, was supported by expectations of a softer landing in the US as “inflationary forces recede” and in light of possible measures to stimulate the Chinese economy. Mining companies are generally supported, with the potential for strong demand for metals next year, he added.

In addition to China's data, European markets were also lifted by falling yields on sovereign bonds in the Eurozone, the United Kingdom and the United States amid expectations of monetary easing next year.

In Paris, the CAC 40 advanced 0.04% to 7,571.82 points. In Frankfurt, the DAX rose 0.21% to 16,742.07 points. In Milan, the FTSE MIB rose 0.22% to 30,421.51 points. In Madrid, the IBEX 35 advanced 0.21% to 10,121.80 points. The PSI 20 in Lisbon rose 0.04% to 6,424.52 points. Citations are preliminary.

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