LONDON (AP) — Global stocks pushed higher on Wednesday on evidence that U.S. consumer spending is withstanding tax increases and on the back of upbeat corporate news.
The latest figures showed U.S. retail sales rose 0.1 percent last month despite a hike in payroll taxes. While the rise was the smallest in three months, analysts said it nevertheless showed underlying resilience in consumer spending, which accounts for 70 percent of the world's largest economy.
Market sentiment was also supported by news that Comcast Corp, America's biggest cable TV operator, agreed to buy half of NBCUniversal for $16.7 billion. Investors took the deal as a vote of confidence in the economy and the media sector.
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