European stocks were higher on Wednesday as global markets look to rally after a rout on Monday.
LONDON —
The pan-European Stoxx 600 was up 0.86% at 9:42 a.m. London time, with most regional bourses and sectors gaining. Autos added 1.84%, while construction and material stocks rose 1.75%.Regional markets have seesawed since sharp global market declines on Monday; on Tuesday, European opened higher but turned lower later in a choppy trading session.announced620 million euros and 670 million euros , down from the previous estimate of 620 million euros to 700 million euros.
Puma cited"the external factors of higher freight costs, changing duties and continued muted consumer sentiment, especially in China," as factors behind the change.Novo Nordisk shares pulled back on Wednesday after the Wegovy maker posted weaker-than-expected net profit in the second quarter and trimmed its operating profit outlook.The pharmaceutical giant said its net profit came in at 20.05 billion Danish kroner in the three months to the end of June.
European markets opened higher on Wednesday, with the pan-European Euro Stoxx 600 adding 0.37% as of 8:23 a.m. London time.Bourses across the region also picked up, with the U.K.'s FTSE 100 adding 0.57%, Germany's DAX rising 0.27% and France's CAC 40 gaining 0.46%.On Wednesday, earnings are expected from Maersk, Novo Nordisk, Commerzbank, Siemens Energy, Continental, Puma, Illimity, Ahold Delhaize, ABN AMRO, Legal & General, Glencore and WPP.
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