European stocks climb in early trade, Frankfurt surges 0.38pc

TOKYO: Europe’s main stock markets have climbed at the start of trading, with London’s benchmark FTSE 100 index up 0.34 per cent at 7,086.78 points.

Frankfurt’s DAX 30 index rose 0.38 per cent to 11,984.39 points and the CAC 40 in Paris gained 0.35 per cent to 5,210.70 on Wednesday compared with Tuesday’s close.

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Strategists said gains were partially being driven by Asia, where Japan’s Nikkei Stock Average closed above 20,000 for the first time in 15 years Wednesday after the country registered a trade surplus in March for the first time in nearly three years.

Falling oil prices reduced the value of imports during the month there, while a weaker yen and the US economic recovery lifted outbound shipments. Chinese shares are also on a roll thanks to Tuesday’s commentary from the official Xinhua News agency suggesting stocks there were at the start of a bull market.

Back in Europe, the earnings season also offered some support for equities.