European Shares Gain Ahead Of Inflation And GDP Data

European stocks advanced on Tuesday and regional bond yields dipped after France and the Netherlands reported falling inflation in October.

Traders await Eurozone GDP and inflation data later in the day for fresh impetus.
The pan-European STOXX 600 climbed 0.6 percent to 433.75 after rising 0.4 percent on Monday.

The German DAX, France’s CAC 40 and the U.K.’s FTSE 100 were up between half a percent and 0.7 percent.

Anheuser Busch Inbev, the world’s largest brewer, jumped 3.3 percent after posting Q3 sales above expectations.

Rival Carlsberg fell 2.4 percent after it warned of weak consumer sentiment in Europe and Southeast Asia.

Spanish lender BBVA dropped 1 percent despite reporting robust third-quarter earnings.

Engineering group Wartsila jumped 15 percent after profitability improved in the energy business in the third quarter of 2023.

BP Plc shares slumped 4.6 percent in London after the energy giant reported a steep drop in third-quarter profits as a result of lower prices for hydrocarbons and lower than expected results from its gas trading operations.

Spectris rallied 3.4 percent after the precision instrumentation and controls company said it expects full-year profits to be at the top end of forecasts.

Specialty chemicals company Elementis rose over 3 percent despite reporting a fall in third-quarter revenue from last year.

Thales tumbled 3.1 percent after the French defense electronics maker said its order intake for the period ending 30 September 2023 fell 18 percent on an organic basis.

Construction-to-telecoms conglomerate Bouygues climbed 4.3 percent after posting solid nine-month results and confirming FY23 outlook.

Germany’s Siemens Energy declined 2.1 after reports that it is considering selling stake in Indian-listed Siemens to former parent Siemens AG. Shares of the latter were up 0.6 percent.

Utility Uniper SE surged 8.6 percent after it swung to a nine-month net profit of 9.77 billion euros ($10.35 billion).

Chemicals maker BASF rallied more than 4 percent as it unveiled fresh cuts to investment and measures to reduce operating costs.

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