(MENAFN) On Wednesday, European stocks kicked off trading on a positive note, buoyed by the impressive performance of companies like Anheuser-Busch InBev and Siemens Energy, whose shares surged following robust quarterly reports. Investor sentiment was also influenced by anticipation surrounding interest rate decisions from major central banks. As of 0720 GMT, the European STOXX 600 index climbed 0.3 percent, reaching its highest levels in over a month.
The index had experienced a notable uptick of over 1 percent to achieve a record closing level just the previous day, on Tuesday. Siemens Energy witnessed a remarkable increase of approximately 13 percent in its shares after the German firm, specializing in electrical equipment manufacturing, raised its outlook for the year 2024. This adjustment came in response to second-quarter results that surpassed expectations.
Meanwhile, shares of Anheuser-Busch InBev, the world's largest beer producer, saw a significant uptick of 4.8 percent following a 2.6 percent sales increase in the first quarter, in line with forecasts. Moreover, sales volumes exceeded expectations, propelling the food and beverage sub-index to rise by 1.4 percent.
However, BMW experienced a downturn with shares dropping by 4.7 percent as the automaker predicted a decrease in pre-tax profits for the current year. Similarly, Swedish construction company Skanska witnessed a decline of 4.2 percent in its shares after reporting a smaller-than-anticipated rise in operating profits during the first quarter.
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