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London - European stock markets rose on Wednesday, building on the previous day's gains and following a positive lead from Wall Street that helped to offset geopolitical unrest, traders said.
London's benchmark FTSE 100 index climbed 0.19% to stand at 6 808.03 points in midday deals.
Frankfurt's DAX 30 gained 0.54% to 9 787.37 points and the CAC 40 in Paris won 0.45% to 4 389.19 compared to Tuesday's close.
Craig Erlam, market analyst at Alpari traders, said investors were more concerned about economic data and the earnings season than the conflicts in eastern Ukraine and Gaza.
"That's not to say that both of these don't have the potential to cause further disruptions and weigh further on investor sentiment. It just means that the risk associated with these events is fully priced-in and there have been no new significant developments," he added.
Global markets had rebounded on Tuesday on news that pro-Russian rebels had handed over the black boxes from the Malaysian passenger jet that came down in eastern Ukraine, killing almost 300 people.
US shares were given an extra boost by data from the National Association of Realtors that showed sales of existing homes in June accelerated 2.6% to their fastest pace since October. The figures are a boon for the economy, with the property sector a key component.
Euro halts slide
In foreign exchange on Wednesday, the European single currency hit an eight-month low at $1.3455. It later recovered to $1.3464, which compared to $1.3465 late in New York on Tuesday.
The euro rose to 79 British pence from 78.90 on Tuesday. The pound dropped to $1.7043 from $1.7061.
The euro was wallowing at multi-month lows against the dollar and yen as the West considers another round of sanctions against Russia for its support of Ukrainian rebels, who have been accused of shooting down Malaysia Airlines flight MH17 on Thursday.
With the euro zone heavily reliant on its giant eastern neighbour for energy supplies, there are fears the bloc's already fragile economy could suffer as a result of any new measures against Moscow.
The pound meanwhile drifted after the Bank of England said in minutes of its last meeting that policymakers had voted unanimously to keep its main interest rate at a record-low level of 0.50% indicating that it is not ready just yet to start raising borrowing costs.
In corporate activity, French engineering group Alstom reported sales and order figures which fit its strategy, controversial in France, of selling energy assets to focus on being a world leader in rail equipment.
Shares in the group were showing a gain of 0.84% to ¥27.62 in Paris.
Asian stock markets meanwhile mostly closed higher on Wednesday.
The price of gold slid to $1 307.50 an ounce on the London Bullion Market compared with $1 310.25 on Tuesday.
London's benchmark FTSE 100 index climbed 0.19% to stand at 6 808.03 points in midday deals.
Frankfurt's DAX 30 gained 0.54% to 9 787.37 points and the CAC 40 in Paris won 0.45% to 4 389.19 compared to Tuesday's close.
Craig Erlam, market analyst at Alpari traders, said investors were more concerned about economic data and the earnings season than the conflicts in eastern Ukraine and Gaza.
"That's not to say that both of these don't have the potential to cause further disruptions and weigh further on investor sentiment. It just means that the risk associated with these events is fully priced-in and there have been no new significant developments," he added.
Global markets had rebounded on Tuesday on news that pro-Russian rebels had handed over the black boxes from the Malaysian passenger jet that came down in eastern Ukraine, killing almost 300 people.
US shares were given an extra boost by data from the National Association of Realtors that showed sales of existing homes in June accelerated 2.6% to their fastest pace since October. The figures are a boon for the economy, with the property sector a key component.
Euro halts slide
In foreign exchange on Wednesday, the European single currency hit an eight-month low at $1.3455. It later recovered to $1.3464, which compared to $1.3465 late in New York on Tuesday.
The euro rose to 79 British pence from 78.90 on Tuesday. The pound dropped to $1.7043 from $1.7061.
The euro was wallowing at multi-month lows against the dollar and yen as the West considers another round of sanctions against Russia for its support of Ukrainian rebels, who have been accused of shooting down Malaysia Airlines flight MH17 on Thursday.
With the euro zone heavily reliant on its giant eastern neighbour for energy supplies, there are fears the bloc's already fragile economy could suffer as a result of any new measures against Moscow.
The pound meanwhile drifted after the Bank of England said in minutes of its last meeting that policymakers had voted unanimously to keep its main interest rate at a record-low level of 0.50% indicating that it is not ready just yet to start raising borrowing costs.
In corporate activity, French engineering group Alstom reported sales and order figures which fit its strategy, controversial in France, of selling energy assets to focus on being a world leader in rail equipment.
Shares in the group were showing a gain of 0.84% to ¥27.62 in Paris.
Asian stock markets meanwhile mostly closed higher on Wednesday.
The price of gold slid to $1 307.50 an ounce on the London Bullion Market compared with $1 310.25 on Tuesday.
