European stocks advanced on Wednesday as investors digested a batch of strong earnings and looked ahead to the ECB rate decision for directional cues.
The European Central Bank holds a policy meeting on Thursday, with investors hoping the meeting will give more clarity about the central bank’s stimulus plans.
The pan European Stoxx 600 rose 0.4 percent to 435.68 after plunging 1.9 percent on Tuesday. The German DAX and the U.K.’s FTSE 100 edged up around 0.2 percent, while France’s CAC 40 index gained half a percent.
ASML Holding shares jumped 4.4 percent after the semiconductor equipment maker boosted its revenue guidance for 2021.
Brewer Heineken climbed 3.6 percent after reporting higher net profit in the first quarter.
Pharmaceutical group Roche Holding gained 1.4 percent after confirming its outlook for the year.
Airlines were moving higher, with Lufthansa, International Consolidated Airlines and easyJet climbing 2-3 percent.
Shares of Juventus Football Club plunged 12 percent as all six English teams backed out of plans for an elite Super League, after a storm of protest from supporters.
Metro AG shares added 1.4 percent. The wholesale food distributor has updated its revenue and earnings forecasts for the full fiscal year, and said that first-half figures were in line with guidance.
Grocer Carrefour surged 4 percent after it reported higher first-quarter sales and announced that it is launching a share buyback program worth at least €500 million.
Luxury goods company Kering advanced 1.7 percent. The firm’s Q1 sales topped forecasts as leading brand Gucci returned to growth.
Pharmaceutical company Hikma rallied 2.4 percent after announcing it has resumed the launch of its generic version of GlaxoSmithKline’s asthma Advair Diskus in the United States.
Bunzl lost 2.4 percent. The distribution and services firm reported a rise in first-quarter revenue and maintained its outlook for the rest of the year.
Kier Group shares slumped 4 percent. The construction company plans to raise 190-240 million pounds by offering new shares in the coming weeks.
In economic releases, U.K. consumer prices advanced 0.7 percent year-on-year in March, faster than the 0.4 percent increase seen in February, data from the Office for National Statistics revealed.
U.K. average house prices grew 8.6 percent year-on-year in February, faster than the 8 percent increase in January, another report showed. This was the fastest growth since October 2014.
Business News
European Shares Rise On Earnings
2021-04-21 09:53:14
