Global Stocks Shrug Off Growth Concerns

Global stocks mostly rose Wednesday as investors digested mixed readings on China's economy.

The Stoxx Europe 600 was up 0.5% in early trade, led by a 0.8% rise in Germany's DAX index.

Asian shares were little changed. The Shanghai Composite Index was up 0.3%, while Japan's Nikkei 225 rose 0.1% and Australia's S&P/ASX 200 was up 0.5%.

The moves come after stocks on Wall Street inched up Tuesday, with declines in technology stocks muting gains.

Chinese industrial output in October rose 5.6% compared with a 5.7% rise the previous month, data showed early Wednesday. But investors were encouraged by strong retail sales in October, which rose at the fastest pace this year.

Global stocks have mostly fallen this week following further signs of weakness in China's economy and a strong U.S. jobs report Friday, which many investors believe will cause the Federal Reserve to raise interest rates in December. Ultralow interest rates have boosted equity markets over the past several years.

This week, "the market's taking a step back and working out whether global growth is really slowing," said Andy Sullivan, an investment consultant with U.K. investment firm GL Finance London.

Mr. Sullivan said European companies on the whole are in a strong position and should be able to weather the concerns about global growth.

In Europe, investors were also focused on the latest batch of corporate earnings. Shares in Danish Brewer Carlsberg were up nearly 8% after the company said it would cut 2,000 jobs following a third-quarter loss. Shares in Vivendi SA sank nearly 8% after third quarter results came in below expectations.

In commodities, Brent crude oil was down 0.5% at $47.85 a barrel. Gold was up 0.2% at $1090.20.

In currencies, the dollar was down 0.2% against the yen at ¥ 123.0190.

The euro was up 0.1% against the dollar at $1.0748 ahead of a speech by European Central Bank President Mario Draghi on Wednesday, which could offer further clues on the bank's plans for future stimulus.

U.S. bond markets will be closed for Veterans Day, but stock and other capital markets will be open.

Write to Riva Gold at [e-mail]

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(END) Dow Jones Newswires

November 11, 2015 04:25 ET (09:25 GMT)

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