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European Shares Rebound As Investors Await US Inflation Data


European stocks were trading higher on Wednesday as investors await the U.S inflation report due later in the day for further cues on interest-rate changes in the world's largest economy.

Earlier in the day, Sweden's central bank decided to maintain its negative interest rate and the future path of repo rate.

The pan-European Stoxx Europe 600 index was up 0.7 percent at 373.05 in late opening deals after declining 0.6 percent the previous day.

The German DAX and the U.K.'s FTSE 100 were up around 0.7 percent each, while France's CAC 40 index was moving up 0.6 percent.

Swiss bank Credit Suisse jumped 3.3 percent after its Q4 net loss narrowed from last year.

Sky Plc jumped over 3 percent and BT Group rose more than 1 percent in London after they have agreed to pay £4.464bn to secure the broadcast rights for the bulk of Premier League football games from the 2019/20 season.

Food group Danone rose about 1 percent in Paris. The company intends to sell part of its 21.3 percent stake in Japan-listed Yakult Honsha Co.

Crédit Agricole shares fell over 2 percent. The French bank posted double-digit growth in the fourth quarter despite a one off tax surcharge in France.

Retail giant H&M dropped 1.7 percent after saying 2018 will be challenging.

German steelmaker Thyssenkrupp shed about 1 percent after its first-quarter profits and revenue came in lower than estimated.

Galliford Try plunged as much as 18 percent on equity dilution worries after the construction group and housebuilder announced a £150m capital raising to help cover the impact of Carillion's liquidation.

On the data front, the euro area economy grew at a slightly slower pace in the fourth quarter, flash estimate published by Eurostat showed.

GDP climbed 0.6 percent sequentially, following third quarter's 0.7 percent expansion. The rate came in line with the preliminary flash estimate published on January 30.

Eurozone industrial production for December rose 0.4 percent month-on-month, beating forecasts for 0.2 percent growth.

German consumer price index rose 1.6 percent year-on-year after 1.7 percent increase in December, while the German economy grew 0.6 percent sequentially in the fourth quarter, in line with expectations, but slightly slower than the 0.7 percent expansion seen in the third quarter, separate reports showed.

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