The Economic Times daily newspaper is available online now.

    European shares open higher on earnings-driven optimism

    Synopsis

    The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month

    European shares open higher on earnings-driven optimismiStock
    European shares kicked off trade on an upbeat note on Wednesday, boosted by beer maker Anheuser-Busch Inbev and Germany's Siemens Energy following strong quarterly earnings, while investors also mulled the fate of interest rate cuts from major central banks.

    The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month. The benchmark index jumped over 1% to a record closing high on Tuesday.

    Shares of Siemens Energy spiked nearly 13% as the power equipment maker raised its 2024 outlook after its second-quarter results trounced expectations.

    World's largest beer maker Anheuser-Busch Inbev climbed 4.8% after first-quarter sales rose 2.6%, in line with expectations, and volumes came in better than expected, steering a 1.4% advance in the food and beverages index.

    Supermarket group Ahold Delhaize rose 4% after a first-quarter core profit margin beat, while German sportswear maker Puma advanced 5.3% after its first-quarter sales came in line with market view.

    BMW lost 4.7% as the automaker forecast a dip in pre-tax profit this year, while Swedish builder Skanska dropped 4.2% after a smaller-than-expected rise in first-quarter operating earnings.


    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more

    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in