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European stocks retained gains on Wednesday, after closely watched U.S. inflation data came in fairly close to expectations.
The Stoxx Europe 600
SXXP,
gained 0.5% in afternoon action, as U.S. consumer prices rose 0.5% in December, a tenth higher than forecast.
Basic resource stocks led the advance, with miners Antofagasta
ANTO,
and KGHM Polska Miedz
KGH,
each rising 6%.
Philips
PHIA,
was the big mover in Europe, sliding 15% after warning sales would miss expectations, on what it blamed on supply-chain shortages and the postponement of customer installations in hospitals.
