European shares rose to trade near a record high on Wednesday, as the US and Ukraine agreeing to terms of a critical minerals deal lifted market sentiment, while strong earnings from beer giant AB InBev also extended support.
The pan-European STOXX 600 index was up 0.5%, as of 0815 GMT.
Germany’s blue-chip index jumped 0.8%, outperforming its peers.
The draft minerals deal, central to Kyiv’s push to win Washington’s support to rapidly end the war with Russia, says that the United States wants Ukraine to be “free, sovereign and secure.”
A majority of sub-indexes on STOXX 600 logged gains, led by basic resources that jumped 1.5%. Anheuser-Busch InBev (AB InBev) jumped 7.4% after it reported fourth-quarter operating profit that was well ahead of analyst forecasts.
The stock lifted the food and beverages index by 1%. Stellantis fell 4% after the company reported a 70% drop in full-year net profit.
European shares flat as defence gains combat tech losses
The automaker said it would return to revenue growth and positive cash generation in 2025.
Shares of Deutsche Telekom fell 3.6% after its full-year results and 2025 outlook slightly missed analysts’ estimate.
All eyes are on US chipmaker giant Nvidia’s quarterly earnings after the bell, with expectations of outstanding results which could placate investors who continue to doubt hefty investment into artificial intelligence.
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