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European stocks rise after earnings outperform

European stocks generally rose on Wednesday, boosting earnings and expectations for a strong economic recovery provided some support.

Investors were wary of waiting for US inflation data scheduled for later that day to get clues about future monetary policy.

After falling 2% on Tuesday, the Pan-European STOXX 600 rose 0.3% to 437.89.

Germany’s DAX rose 0.1% and France’s CAC 40 index rose slightly, while the UK’s FTSE 100 rose 0.7% after GDP figures were released.

According to the Office for National Statistics, UK gross domestic product fell 1.5% quarter-on-quarter in the first quarter and reversed a 1.3% rise in the fourth quarter. Economists predicted a continuous decline of 1.6%.

GDP increased by 2.1% month-on-month in March as a school and part of it. Economy It resumed throughout the month.

Spirits maker Diageo rose 3%. The company said it plans to resume its capital return program and report at least 14% intrinsic operating growth in 2021.

UDG Healthcare’s share price surged 21%. The pharmaceutical services company has agreed to acquire £ 2.61 billion ($ 3.69 billion) by Clayton, Dubilier & Rice.

Just Eat Takeaway.com NV fell 3.7% after rival food delivery company Delivery Hero SE announced plans to re-enter the German domestic market next month.

EDF Group’s share price rose 2.6%. The French power group confirmed year-round guidance after sales increased in the first quarter.

German lender Commerzbank, after turning into profits in the first quarter, surpassed expectations and surged 6.3%.

SGL Carbon rose 3.2%. Manufacturers of carbon and graphite products have confirmed the guidance for the full year 2021. Sales range from € 920 million to € 970 million.

Utility RWE rose 1.5% after supporting the 2021 view.

Deutsche Telekom rose about 2%. Telecommunications companies raised their 2021 profit forecasts after strong operations in the US and Europe in the first quarter.

Bayer soared 4%. The pharmaceutical and chemical conglomerate confirmed this year’s outlook after reporting an increase in quarterly net profit.

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European stocks rise after earnings outperform

Source link European stocks rise after earnings outperform

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