Home Business News European stocks mixed amid earnings surprises

European stock markets recorded mixed performances, with the broader STOXX 600 experiencing a decrease and the STOXX 50 witnessing a rise.

Market participants awaited several key events, including the release of Nvidia’s quarterly results and the minutes of the U.S. Federal Reserve’s latest meeting to gain insight into the potential start of a monetary easing cycle.

Moreover, the market looks forward to Eurozone PMIs, CPI, ECB accounts, and the German Ifo business survey, all expected later in the week.

The DAX managed a slight gain but remained below its previous peak. The market was supported by strong automotive stocks but saw positive performances in other sectors as well.

Healthcare firm Fresenius surpassed expectations with a 13% surge in fourth-quarter operating earnings on Wednesday after surpassing its cost-saving target for 2023. F

resenius shares climbed at the start of the trading session before sliding. The CAC 40 was mostly unchanged and remained near its high while luxury stocks maintained their uptrend. Carrefour’s stronger-than-expected results supported sentiment as its stock climbed more than 4%.

Conversely, the FTSE 100 retreated following disappointing earnings updates from major players, such as HSBC Holdings and Glencore. HSBC shares plummeted by 7% due to lower-than-anticipated annual profits, while Glencore shares declined due to reduced commodity prices and investor payouts. Other mining stocks declined as well.

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