FTSE 100: 0.89%
Dax-30: 0.42%
Cac-40: 0.34%
FTSE Mibtel 30: 1.87%
Ibex 35: 1.55%
Stoxx 600: 0.69%

European equities advanced as the market reacted positively to US aluminium manufacturer Alcoa's higher-than-expected sales figures.

Alcoa, the largest aluminium producer in the United States, reported fourth-quarter sales of $5.9bn. The company said it expected stronger demand in 2013.

The report raised hopes that European companies would follow suit in coming weeks.

The telecommunications industry was also pushing stocks higher following a report that mobile phone operators had discussed sharing infrastructure across Europe.

Deutsche Telekom climbed 3.77%, France Telecom shot up 5.8% and Telecom Italia was up 5.55% by Wednesday's close.

Global risks for 2013 outlined by World Economic Forum

German industrial production rose by 0.2% in November, the Economy Ministry in Berlin said, marking the first time output has increased in four months. The figure followed a revised 2% a month earlier.

Italy's deficit-to-GDP ratio fell 3.7% in the third quarter, after a reading of 4.7% in the previous one (Preliminary: 5%). In other Italian news Mario Monti was tipped to win February's elections as Italy's top experts said his rival Silvio Berlusconi had little chance of becoming leader, Reuters reported.

The World Economic Forum has highlighted the top global risks for 2013 ahead of its next conference from January 22nd to 27th. The group said there was lack of action being taken to address severe income disparities, the indebted state of governments and rising greenhouse gas emissions.

Delta Lloyd climbs on back of Aviva sale

Delta Lloyd shares soared over 6% after UK insurer Aviva sold its 19.4% stake in the Dutch company for €433.8m. Aviva fell by 2.5% to 372.4p.

Shire gained 2.2% to 2,007p after the pharmaceuticals company announced it expected "double digit" earnings growth in 2012.

Mining company Xstrata climbed 2.43% to 1,158.50p after the Bank of America Merrill Lynch anticipated the merged Glencore-Xstrata would produce net earnings of more than $7bn per year by 2014, buoyed by coal and copper.

Euro falls against dollar

The euro/dollar fell by 0.28% to the 1.304 dollar mark.

Front month Brent crude futures are now falling by 0.305 dollars to the 111.600 dollar level on the ICE.

RD

Related share prices