The main European indices They closed this Wednesday at historical highs, since investors applauded the good results of companies such as the brewer Anheuser-Busch Inbev and the German Siemens Energy while they analyze the possible path of interest rate cuts by central banks.
The pan-European STOXX 600 index gained 0.3% and hit a record after advancing more than 1% on Tuesday.
Industrial stocks boosted the main index after Siemens Energy will raise its outlook for the year and announce results higher than those of the second quarter. The shares of the electrical equipment manufacturer rose 4.7% and led the gains of the German benchmark DAX.
Anheuser-Busch Inbev advanced 5.6% after publishing first quarter results that improved the consensus and confirming its outlook for 2024.
The largest beer manufacturer in the world was the one that rose the most in the Belgian selective and the one that most promoted the food and beverage sector of the STOXX, which led the sectoral advances with a improvement of 1.6%.
German sportswear maker Puma advanced 11% after first quarter sales met expectations, while supermarket group Ahold Delhaize rose 2.4% after surpassing the core profit margin in the first three months.
The Italian Leonardo improved 2.7% thanks to order and revenue growth in the first quarter. The aerospace and defense index added 1.4%.
According to Deutsche Bank analysts, Better-than-expected economic growth in China and Europe, and possible rate cuts from the European Central Bank suggest a further recovery in profits in the coming quarters.
The STOXX 600 pared losses in April thanks to resilient corporate earnings, ECB confidence in a likely first rate cut in June and easing tensions in the Middle East.
Source: Ambito
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