• 22/04/2024 18:43

European shares at historic high after strong company reports

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.

European shares at a historical peak after strong company reports

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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.


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