Abdelrahman
European markets experienced a positive start on Wednesday as investors worldwide look forward to the latest inflation data from the U.S.
The pan-European Stoxx 600 rose by 0.14% during the opening session, with major indices and nearly all sectors in positive territory. The food and beverage sector led the charge, climbing 1.06%, while oil and gas stocks saw a decline of 0.62%.
Heineken shares surged by 12%, prompting a brief trading halt after the Dutch brewery exceeded expectations with its operating profit forecast and announced a significant €1.5 billion ($1.55 billion) share buyback scheme. As of 8:11 a.m. London time, the stock was up by 11.83%.
This upbeat performance by Heineken also boosted its competitors in the beverage industry, with Belgium’s AB InBev gaining 5%, while Denmark’s Carlsberg saw an increase of 2.87%.
Market participants globally are keenly awaiting the U.S. consumer price index report for January, which is set to be released today.
Economists predict that overall inflation will have risen by 0.3% month-over-month and 2.9% year-over-year, according to Dow Jones. Some analysts on Wall Street have expressed concern that while certain segments may experience disinflation, tariffs imposed during the Trump administration could neutralize such effects. Further inflation data will follow on Thursday with the release of the producer price index.
— CNBC’s Brian Evans contributed to this market summary
