European Stocks Hit New Record High on Flow of Solid Earnings [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — European stocks rose to a fresh record high as solid earnings from the likes of Anheuser-Busch InBev NV and Siemens Energy boosted sentiment. The Stoxx 600 Index was 0.3% higher by the close in London for its fourth straight day of gains. The food & beverages sector led the advance, with AB InBev rallying after reporting better-than-expected volumes and sales in North America. Alstom SA soared after the troubled train maker outlined a capital increase of about €1 billion ($1.1 billion) to shore up its balance sheet, while an outlook upgrade lifted Siemens Energy AG. Article content Article content Puma SE, JD Wetherspoon Plc and Ahold Delhaize NV were among others posting forecast-beating results. Auto stocks bucked the firmer trend, however, with luxury carmaker BMW AG sliding after it said higher costs had hit profits. “The blue chips on the
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