As investors kept an eye on a rush of corporate results reports coming out of the area, European markets saw more substantial trading on Wednesday.
Most sectors and all major bourses were in positive territory as the pan-European Stoxx 600 index provisionally finished 0.99% higher. With the Dax rising 1.73%, German equities continued the surge following the country’s federal election over the weekend.
Adecco Group, E.On, Danone, Munich Re, Uniper, Stellantis, Wolters Kluwer, Aston Martin Lagonda Global Holdings, Covestro, and Deutsche Telekom were among the companies that made their earnings public on Wednesday. Following better-than-expected fourth-quarter sales, AB InBev, the business that makes Budweiser, saw an 8.5% increase in value.
Wienerberger, an Austrian construction supplier, was one of the top performers on the Stoxx 600, with business shares rising 11.2% after it announced a 7% increase in annual sales year over year and increased its dividend.
With shares rising 12.3% after the company reduced dividends and revealed a 14% yearly decline in full-year operational income, recruitment behemoth Adecco also edged closer to the top of the index. In its quarterly report, Adecco stated that it had achieved savings of 174 million euros in 2024, exceeding its general and administrative reductions goal.
Asia-Pacific markets saw uneven trading overnight, with Wall Street seeing further losses Tuesday after the U.S. consumer confidence report was far lower than analysts had predicted.
However, investors were waiting for market leader Nvidia’s earnings following Wednesday’s closing bell, which caused U.S. equities to start higher. The research can serve as the market’s next stimulant.
The trading day for U.S. markets began Wednesday on a positive note. The Nasdaq Composite increased by 0.3%, while the S&P 500 climbed 0.2%. The Dow Jones Industrial Average, however, wavered close to the flatline.
Shares of Wolters Kluwer fell on Wednesday on the announcement by longtime CEO Nancy McKinstry that she would be leaving the company in February 2026.
With shares falling by over 10%, the Dutch information services business was the most significant loser on the Stoxx 600 index. Stacey Caywood, the company’s health sector CEO, will take over for McKinstry, who has led the business since 2003.
Additionally, the business reported a 6% rise in sales from 2023 to 2024, from 5.58 billion euros to 5.92 billion euros ($6.21 billion). Compared to 1.48 billion euros the year before, adjusted operating profit growth was 8% higher at 1.6 billion euros. A proposal to repurchase up to one billion euros worth of shares was also disclosed. CNBC’s Karen Tso and Steve Sedgwick said, “We had a very solid 2024,” while appearing on “Squawk Box.”
We see excellent momentum moving ahead this year and have a solid base across all our user markets. Due to comparisons from 2024, we did advise a slower start to our divisions in the first half, but excellent growth is still anticipated in 2025.
“I have a great team, so I would say what it takes is to stay very close to your customers,” McKinstry continued while discussing her retirement and the qualities that make a successful CEO. Spend time inventing to expand the business truly, and once again, assemble the finest team you can because the business environment is changing. We’ve undergone significant change over my ten years as CEO, so it truly needs a great team to do that.”