European stocks closed sharply higher on Wednesday after a quiet session amid a strong set of corporate earnings, as markets continued to assess risks to European corporate earnings amid U.S. trade headwinds and the prospect of higher defense-focused government spending. The STOXX 50 jumped 1.5% to 5,530, 5 points from a record, and the STOXX 600 gained 1.6% to a fresh record of 560. AB InBev jumped 8.7% after reporting stronger-than-expected fourth-quarter earnings, and Munich RE jumped 4.8% after beating earnings estimates and raising its dividend payout. Additionally, Siemens and Schneider both extended this week's strong momentum, rising more than 3% each. Meanwhile, ASML jumped 2.5% ahead of Nvidia's long-awaited results due after the U.S. close, which will influence chip stocks globally. On the other hand, Deutsche Telekom and Stellantis fell 4.5% and 2.7% after posting their results and guidance. (Newsmaker23)
Source: Trading Economics
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