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European stocks rise as Accor and Nokia climb

Reuters - UK Focus

LONDON, July 13 (Reuters) - European stock markets rose on Wednesday, leaving a benchmark regional index near its highest level in more than two weeks, with shares in AccorHotels and Nokia (Milan: 23568.MI - news) both outperforming.

The pan-European STOXX 600 index edged up 0.3 percent towards its highest level since late June.

The STOXX 600 had slumped 11 percent in the first two trading sessions in the immediate aftermath of Britain's shock vote on June 23 to leave the European Union.

However, the index has since clawed back much of that ground, helped in part by expectations that the European Central Bank and Bank of England will step in to support markets from the effects of the Brexit vote.

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Shares (Berlin: DI6.BE - news) in AccorHotels were among the top performers, rising 3.8 percent after investors welcomed its plans to turn its HotelInvest property business into a subsidiary.

Nokia also rose 4.4 percent after Nokia raised its sales forecast and announced a licensing agreement with Samsung. (Reporting by Sudip Kar-Gupta; Editing by Toby Chopra)