Major European stock markets advanced on Wednesday, with both the STOXX 50 and STOXX 600 gaining around 1%, building on the previous session's gain and mirroring a broadly positive global sentiment. Investors took comfort after President Trump stated he has no plans to dismiss Federal Reserve Chair Jerome Powell, easing fears over the politicization of US monetary policy.
Hopes for a de-escalation in trade tensions between the US and China also lifted sentiment, following remarks from both President Trump and Treasury Secretary Scott Bessent.
On the corporate front, shares of SAP jumped nearly 10%, ranking among the top performers, after the company reported a 60% year-on-year increase in operating profit, beating forecasts.
In contrast, Volvo shares slipped 1% after the company reported a 7% decline in Q1 2025 net sales, due to uncertainty around global tariffs. On the data front, flash PMI figures from France showed a surprising deepening in the services sector contraction.
Source: Trading Economics
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