European shares open higher on earnings-driven optimism

European shares kicked off trade on an upbeat note on Wednesday, boosted by beer maker Anheuser-Busch Inbev and Germany's Siemens Energy following strong quarterly earnings, while investors also mulled the fate of interest rate cuts from major central banks.

The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month. The benchmark index jumped over 1% to a record closing high on Tuesday.

Shares of Siemens Energy spiked nearly 13% as the power equipment maker raised its 2024 outlook after its second-quarter results trounced expectations.


World's largest beer maker Anheuser-Busch Inbev climbed 4.8% after first-quarter sales rose 2.6%, in line with expectations, and volumes came in better than expected, steering a 1.4% advance in the food and beverages index.

Supermarket group Ahold Delhaize rose 4% after a first-quarter core profit margin beat, while German sportswear maker Puma advanced 5.3% after its first-quarter sales came in line with market view.

BMW lost 4.7% as the automaker forecast a dip in pre-tax profit this year, while Swedish builder Skanska dropped 4.2% after a smaller-than-expected rise in first-quarter operating earnings.