European stocks rose for the first time after declining during the past several sessions, as investors seek safe assets after a global sell-off in the markets due to doubts about the effectiveness of central bank policy.

Statistical data from the UK, released on Wednesday showed that the country's decision to withdraw from the European Union did not lead to cooling of the labor market. Unemployment in the UK in May-July 2016 remained at 4.9%, which is 11 years low, according to the country's National Statistical Management (ONS). The number of unemployed in the three months fell by 39 thousand., The number of employees (aged 16 to 64 years) increased by 174 thousand.

Market focus is on Bank of England's meeting ending tomorow. British Central Bank is expected to hold the policy after taking aggressive measures at the August meeting.

The composite index of the largest companies in the region Stoxx Europe 600 rose 0,4% to 340.03 points.

Mining stocks rise in price in the bidding against the backdrop of rising prices for metals.

Glencore shares cost increased by 3,9%, Anglo American by 3.8%.

Share of European manufacturers of luxury goods fell during trading.

The world's largest jewelry manufacturer Financiere Richemont SA warned to reduce the operating profit in the fiscal first half to 45%, noting the difficult operating environment in the sector, as well as the general weakening of global economic growth.

Meanwhile, the French fashion house Hermes International SCA increased profit and revenues in the 1 st half of 2016, but declined the mid-term forecast increase in revenue, noting the growing economic and geopolitical tensions around the world.

Stocks of Richemont and Hermes fell 4.2% and 7% and Burberry -2.6%.

The cost of the Swiss watch manufacturer Swatch Group decreased by 3.4%.

At the moment:

FTSE 6710.19 44.56 0.67%

DAX 10421.15 34.55 0.33%

CAC 4389.06 1.88 0.04%