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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