Strong quarterly reports on corporate earnings of European companies supported the stock market on Wednesday, but concerns about the aggressive steps of major central banks are limiting growth. Thus, the pan-European STOXX 600 index rose by 1.0%. The UK FTSE 100 advanced by 0.45% to 7,600.4, the French CAC 40 was up by 1.06% to 7,103.08, and the German DAX rose by 0.88% to 15,376.34.
Investors expect the European companies to show strong financial performance. This week, such companies as Metro AG, Societe Generale, and Total Energies will issue their corporate reports.
Shares of some European companies have already posted gains. For example, the securities of the French asset manager Amundi added 2.5%. This rise was facilitated by reports about a significant increase in the company's quarterly profits.
Equinor, the largest oil company in Northern Europe, published strong results for the previous year. Its shares were up by 3.7%.
Shares of Danish jewellery maker Pandora also rose by 5.1% today. The expected growth of sales in 2022 was certainly a driving factor. In addition, Pandora's results came in line with the preliminary forecast released in January.
Shares of the Dutch payment system Adyen were the top gainers in Europe: their price surged unexpectedly by as much as 11.0%.
The worst performers of the day were the stocks of the Swedish online casino developer Evolution Gaming, which lost 6.8%, and the shares of the Norwegian financial corporation Storebrand, which fell by 5.8%. Shares of the Dutch insurance company Aegon NV also slipped into negative territory with a drop of 4.86%.
In general, on February 9, global stock markets were quite optimistic. In addition to strong corporate reports, the macroeconomic data from Germany was also of key importance. Thus, the volume of the country's exports in December in monthly terms rose by 0.9% and imports - by 4.7%.
Investors hope that the geopolitical conflict in Eastern Europe will soon be resolved, especially after French President Emmanuel Macron has visited Moscow and Kyiv. European and American officials are convinced that the only way to handle the conflict on the border with Ukraine is to implement the Minsk agreements.
