European stocks rose on Wednesday as investors across the continent examined a batch of broadly positive earnings releases from firms weathering the coronavirus crisis.
Shares in Dutch international retailer Ahold Delhaize (AD.AS), which operates supermarkets in both the US and Europe, surged after it raised its sales outlook for the year.
Bank of Ireland (BIRG.IR) was the biggest gainer on the the pan-European STOXX 600 index (^STOXX), which climbed by 0.6% on Wednesday, after it said that its outlook was “cautiously more optimistic” than it had previously indicated.
Shares on London’s FTSE 100 (^FTSE) rose by 1%. Germany’s DAX (^GDAXI) climbed by around 0.9% after residential real estate firm Vonovia (VNA.DE) reported a jump in core profits during the first half of its financial year. France’s CAC 40 (^FCHI) climbed by around 0.8%.
The strong open in Europe followed a mixed trading session in Asia. The US and China are set to hold high-level discussions on 15 August to determine whether Beijing is complying with the phase one trade deal signed earlier this year, according to a report in the Wall Street Journal.
Futures were pointing to a higher open for stocks in the US, even after lawmakers there warned that they were not close to reaching a deal on a batch of new stimulus measures.
“We are still far away on a lot of the important issues, but we are continuing to go at it,” Chuck Schumer, the Democratic Senate minority leader, said on Tuesday (4 August).