STOXX 600 Sets Intraday Record as Earnings Optimism Builds
European shares reached a new high as forecasts pointed to the strongest profit growth in four years and Siemens raised its outlook.
Key takeaways
- The STOXX 600 rose 0.4% to 665.6 in early Thursday trading, setting an intraday record.
- LSEG data pointed to 25% third-quarter profit growth for STOXX 600 companies, the fastest in four years.
- Siemens raised its medium-term comparable revenue growth target to 7%-11%.
European shares reached a fresh intraday high on Thursday, with the STOXX 600 up 0.4% at 665.6 in early trading. The index had also closed at a record on Wednesday.
LSEG data put expected third-quarter profit growth for STOXX 600 companies at 25% year on year, the fastest pace in four years. Deutsche Bank’s estimate rose to 28% from 22%, according to Dünya.
Siemens reported a 22% rise in industrial profit in its fiscal fourth quarter, to 3.9 billion euros. The company raised its medium-term annual comparable revenue growth target to 7%-11%, from 6%-9%; its shares gained about 4% in early trading.
Merck KGaA raised its 2026 adjusted EBITDA forecast for the third time this year, to a range of 6.2 billion to 6.4 billion euros. Its previous range was 5.9 billion to 6.3 billion euros.
Dünya cited falling energy prices as another support for European shares, with Brent trading around $93 a barrel. It also noted risks including high interest rates and concerns over public debt in France and Italy.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
