Latest News

European shares gain on earnings boost; Hexagon buoyed by record profit

0

(Reuters) – European shares rose for a third straight session on Wednesday, recouping nearly half of their January losses, as strong fourth-quarter earnings outweighed concerns surrounding interest rate hikes ahead of key central bank decisions due on Thursday.

The pan-European STOXX 600 gained 0.6%, with chemical stocks and financials in the lead.

British online supermarket group Ocado (LON:OCDO) was the top performer in early trade, gaining 7.0% after Credit Suisse (SIX:CSGN) double upgraded the stock to “outperform” from “underperform”.

Swedish industrial technology group Hexagon gained 3.5% after beating market expectations with record quarterly earnings.

German chip supplier Siltronic added 3% after posting a 17% rise in quarterly earnings and saying it expected semiconductor demand to increase.

Novo Nordisk (CSE:NOVOb) climbed 1% despite missing expectations for fourth-quarter operating profit, as the Danish drug developer said it aimed to generate sales growth of between 6% and 10% in local currencies in 2022.

Swedbank dropped 2.9% after posting a fourth-quarter operating profit that was slightly lower than expected, as weaker results from fixed income trading weighed and supply problems tempered economic growth.

European shares gain on earnings boost; Hexagon buoyed by record profit

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Glencore’s cobalt output climbs on Mutanda restart; sticks to 2022 targets

Previous article

Spanish unemployment edged higher in January after 10 months of decline

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News