UKX FTSE 100 Index

By Barbara Kollmeyer, MarketWatch

German growth, Italian budget squabbling, Brexit in focus

European stocks moved higher on Wednesday, reversing earlier losses triggered by swirling economic and political worries, with climbing oil prices and gains in the auto sector helping out.

What are markets doing?

The Stoxx Europe 600 rose 0.2% to 365.20, pulling back from a loss of more than 1% earlier in the session. The index rose 0.7% on Tuesday.

Germany's DAX 30 rose 0.8% to 11,558.48, while France's CAC 40 was up 0.6% at 5,129.02. The U.K.'s FTSE 100 rose 0.6% to 7,095.12, moving back and forth across the flat line owing to sterling action.

The euro traded at $1.1290, unchanged from Monday, while the pound fell to $1.2945, compared with $1.2969 late Tuesday in New York.

What is driving the market?

A turnaround for oil helped to lift global stocks, with prices rebounding after a record-setting 12- straight sessions of losses (http://www.marketwatch.com/story/oil-prices-try-to-steady-after-12th-straight-drop-2018-11-14).

Elsewhere, investors were shaking off weak growth data from Germany (http://www.marketwatch.com/story/german-economy-skids-abruptly-in-third-quarter-2018-11-14-2485325) and mixed economic updates (http://www.marketwatch.com/story/china-gets-mixed-signals-on-october-business-data-2018-11-13) from China, with gains for auto makers lifting the German index amid reports that the White House administration will hold off tariffs (http://www.marketwatch.com/story/trump-administration-reportedly-holds-off-on-auto-tariffs-for-now-2018-11-13) in that sector for now.

Italy was in the spotlight after the government told the European Union (http://www.marketwatch.com/story/italy-faces-showdown-with-eu-after-refusing-to-revise-budget-2018-11-14)it will forge ahead with its pricey fiscal plans despite calls from the bloc's authorities to revise its draft budget for next year.

And Brexit developments were in focus as investors waited to see if U.K. Prime Minister Theresa May can win approval of a draft Brexit deal (http://www.marketwatch.com/story/brexit-deal-faces-hurdle-as-uks-may-must-sell-to-divided-government-2018-11-14) in the face of heavy skepticism from members of her own government. If she can win support from government ministers, a summit of European Union leaders could be called for later this month, with a vote in parliament then likely in the lead up to Christmas.

Read:Currency traders betting on a Brexit deal are having a rough time (http://www.marketwatch.com/story/currency-traders-betting-on-a-brexit-deal-are-having-a-rough-time-2018-11-12)

Stock movers

As crude oil moved higher, BP PLC(BP.LN) (BP.LN) and France's Total SA (TOT)(TOT) up around 1% each.

Vodafone Group PLC(VOD.LN) (VOD.LN), surged by 7.8% higher after the telecom giant said organic (http://www.marketwatch.com/story/vodafone-freezes-dividend-as-it-swings-to-a-loss-2018-11-13)

Dutch payments firm Adyen NV(ADYEN.AE) slid 10%, making for the biggest decliner in the Stoxx Europe 600 on reports it was squeezed out after an MSCI index reweighting (https://www.reuters.com/article/us-europe-stocks/growth-angst-and-oil-slide-take-european-shares-to-two-week-low-idUSKCN1NJ0YV?il=0). Rival Wirecard AG(WDI.XE) slid over 4% even as it lifted guidance over higher transaction volume (http://www.marketwatch.com/story/wirecard-lifts-outlook-as-transaction-volume-jumps-2018-11-14).

(http://www.marketwatch.com/story/wirecard-lifts-outlook-as-transaction-volume-jumps-2018-11-14)Supporting the main index, auto makers rose, with Daimler AG(DAI.XE) up 2.7% and Volkswagen AG(VOW.XE) up 2%.,

(END) Dow Jones Newswires

November 14, 2018 09:32 ET (14:32 GMT)

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