Earnings drive equities in Europe

Earnings drive equities in Europe

On Wednesday, earnings were still the key driver of European shares. Luxury conglomerate Kering literally shone after sales at Gucci went up once again. Meanwhile, benchmarks were muted because market participants waited for the ECB gathering.

The STOXX 600 was intact, euro zone blue chips tacked on 0.2%. In France, CAC 40 rallied 0.2% due to decent revenues from Kering.

Euro zone banks SX7E rallied 0.5%, underpinned by the previous session's profits because market participants actually anticipated Thursday's ECB gathering for the next driver for financial equities that derive benefits from an ascending rate environment.

Ballpoint pens as well as razor maker BIC inched down 10.6%, showing a four-year minimum.

Finnish industrials company Wartsila demonstrated a 5.5% dip after its earnings expectations were missed.

The winner was luxury conglomerate Kering, as its sales tacked on once again due to another forecast-surpassing performance from its brand Gucci.



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