Wednesday saw a small increase in European markets as investors around the world anticipated the most recent U.S. inflation report.
Nearly every sector was trading higher as the pan-European Stoxx 600 index increased 0.3% at 9:30 a.m. London time. While home goods decreased by 0.6%, mining stocks increased by 0.8%. ABN Amro, a Dutch bank, reported a 29% increase in first-quarter net income, but its shares plummeted 6.3% nonetheless.
Additionally, Commerzbank of Germany announced a 29% increase in first-quarter net profit, which above expectations and lifted the company’s shares by 2.4%.
Following a 34% decline in yearly operating profit the previous year, Burberry saw a 2.7% decline as it issued a “challenging” prognosis for the first half of this year. Alongside Kering’s 1.5% loss and LVMH’s 1.3% decline, other luxury stocks also experienced a decline.
Source (CNBC)
