European Markets Rally on Strong Earnings and Economic Data

Major European stocks opened higher on Wednesday, buoyed by a wave of positive earnings reports from leading companies such as TotalEnergies, Stellantis, and Barclays. Investors also digested key economic updates, including inflation and GDP figures from Italy and Germany, alongside eurozone GDP data.

Highlights from the Market Open

The DAX and Euro Stoxx 50 saw gains of 0.34% and 0.21% respectively, with Deutsche Post leading the charge with a 3.56% increase. London's FTSE 100 advanced 0.17%, while the CAC 40 in France jumped 0.41%, propelled by Societe Generale's impressive 5.57% rise.

Currency Markets Hold Steady

The euro and the pound remained stable against the dollar, trading at 1.13907 and 1.34013 respectively, as markets awaited further economic indicators.