The European shares continued achieving earnings on Wednesday as the sentiments were uplifted amid some optimism that followed the release of the inflation figures that went beyond expectations in a positive way.

STOXX 600 advanced by 0.8%, meanwhile CAC 40 nudged up by 1.3%.

Todays released figures manifested a shrink in the business activity in the euro zone lower than expectations, indicating that the possible slowdown in the economy may not be as bad as thought.

STOXX 600 wrapped up the previous year with a slump amid recession worries due to the interest rates hikes from the central banks side to combat the soared inflation.

The STOXX 600 kicked off 2023 with 3% rise supported by the powerful economic figures.

On the other hand, China-exposed luxury companies LVMH advanced by 3.3% and Richemont edged up by 1.4% which consequently boosted the index.

Sanofi nudged up 0.6% following an announcement from the company that the upcoming earnings will mirror an uplift from selling its flu vaccine, while BKW AG rose 4.8%.