jumped 5.8 per cent to €55.66 after the French food group posted stronger quarterly sales growth and maintained its 2022 targets.rose 5.2 per cent to €93.94 on a sharper rise in quarterly beer sales, allowing the Dutch giant to stick to its 2022 forecast.
The Stoxx 600 has declined more tha 5 per cent so far this year, with tech stocks losing 20 per cent. Commodity-linked stocks surged by the same measure on rising prices. Profits for European companies are expected to have grown by 25 per cent in the three months to end-March, a much lower pace compared to the 60-150 per cent rates of 2021 with outlook for the rest of 2022 being the big question for investors as inflation surges to record highs.
Data on Wednesday showed German producer prices rose 30.9 per cent on the year in March, reflecting the effects of the Ukraine conflict. slipped 1.7 per cent to 7.17 francs after the Swiss bank said it expects a first-quarter net loss and higher negative impacts from Russia’s invasion of Ukraine.
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