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European earnings roll call sees Nestlé shares rise, while ASML, Akzo Nobel fall

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European stocks struggle as a big batch of earnings roll out and with more worrying inflation signals, this time out of Germany.

European stocks struggled for direction on Wednesday as investors reacted to results from some of the region’s biggest companies, with shares of Nestlé a top gainer, while ASML Holding, Akzo Nobel and Antofagasta all fell.

Among companies, Nestlé NSRGY, -1.76% NESN, +3.59%, was a leading gainer with a rise of over 3% as the Swiss food and drink conglomerate reported higher sales for the first nine months of the year that also beat forecasts. And Nestlé lifted its full-year guidance for organic sales growth. Its Nescafe, Nespresso and Starbucks brands. Purina PetCare and vegetarian and plant-based food all drove growth.

Akzo Nobel AKZA, -2.15% shares fell over 1% after the Dutch paints and coating company reported a third-quarter fall in net profi, missing consensus and said its performance was hit by high raw-material costs and supply-chain disruptions.

 

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