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European stocks extend rise, focus on earnings

European stocks steadied on Wednesday, underpinned by first-quarter financial results and as the geopolitical tensions fade.

Photo: Reuters

The pan-European STOXX 600 index was 0.2% higher at 381.65.

The DAX 30 index in Germany added 0.3% to 12,623.36, while France’s CAC 40 index jumped 0.4% to 5,376.58. The UK’s FTSE 100 index soared 0.9% to 7,291.52.

Shares of Danone SA leaped 3.6% as the company’s revenue rose 4.9%, at the fastest pace in five years, due to the increased demand for baby food in China.

Heineken NV fell 2.1%, while company reported its beer volumes grew 4.3 percent year-on-year.

Financial markets reacted positively to signals about some improvement in U.S.-North Korea relations after CIA Director Mike Pompeo made a top-secret visit to North Korea more than two weeks ago.

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