European shares rose, hitting another record high on Wednesday, as company financial reports supported market sentiment. Traders are also analyzing industrial production figures in the eurozone. Reuters writes about this.
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Industrial production in the eurozone decreased by 3.2% in January compared to December and fell 6.7% year-on-year, Eurostat data shows.
The European STOXX 600 index rose 0.2% after closing at an all-time high.
Stocks The retail sector strengthened by 2.76% and led gains among industry indices, helped by a 14.67% jump in Zalando shares. The online retailer reported fourth-quarter profits above analysts' expectations and announced a share buyback program.
E.ON rose 6.59% after the energy network operator increased its five-year investment plan to 42 billion euros ($45.90 billion) and forecast profits in 2024 above market expectations.
Vallourec rose 6.81% as steel giant ArcelorMittal announced it would acquire a 28.4% stake in the French firm for 955 million euros.