) stock rose 2% after the French foods group reported stronger-than-expected sales growth in the last quarter of 2022, as it was able to raise prices in the face of soaring raw materials and energy costs.
Stellantis stock rose 2.2% after the automaker posted a better-than-expected annual profit and announced a new share buyback program for 2023. Oil prices drifted lower Wednesday on concerns higher interest rates will hit economic activity in the U.S., the largest consumer in the world, and thus fuel demand., a day later than usual after Monday’s holiday, are due later in the session, and are expected to show another build, exacerbating the demand worries.
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European stocks head for lower open as markets await latest Fed minutesEuropean markets are heading for a lower open Wednesday as investors await the minutes from the U.S. Federal Reserve's latest monetary policy meeting.
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