European shares are broadly higher but a little mixed, Wednesday, as inflation data works to weigh on earlier gains across the indexes. However, some positive earnings data ensures the tone is mainly brighter among investors.
By 1225 BST, the EUROSTOXX 600 was 0.01% in the green, while the EUROSTOXX 50 was up 0.28%. Regional bourses were a little less uniform. The German DAX was 0.087% lower after giving back earlier gains, while the French CAC rose 0.33% and the Spanish IBEX was 0.35% in positive territory.
Inflation data provides downside surprise
Euro-Zone inflation data published earlier Wednesday came in below expectations, rising 1.3% on the year in March. That was a little below the preliminary estimate of a 1.4% increase and proves a disappointing detail as the region works to grow its economy while continuing to target an inflation rate of close to but not below 2%.
However, the disappointment of the data isn’t proving too wide spread among investors, as upbeat earnings and company news buoy indexes.
As the latest round of earnings releases pick up speed, there was some positive news for investors to digest earlier Wednesday.
Danone shares gained 2.19% to hit €67.51 after a forecast beating Q1 performance and confirmation of its previous 2018 guidance.
Polymetal shares were also higher as the London-listed miner reported better-than-expected earnings, too. They rose 11.59% to £695.86.
Other stock gainers following positive earnings reports were:
- Vopak shares rose 6.46% to €41.68.
- Mediclinic International shares gained 6.66% to £666.40.
Elsewhere, Total and Direct Energie shares were both in the green after the French energy firm announced a planned purchase of 74.33% of Direct Energie for $1.4 billion. Total is working to increase its presence in the French and Belgian energy retail market.
Total shares rose 1.25% to €49.37, while Direct Energie shares were 30.65% higher at €42.12.