tradingkey.logo

European shares climb record peak on Nestle earnings, Ukraine peace deal prospects

ReutersFeb 13, 2025 8:28 AM

For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window

- European shares jumped to a record high on Thursday, led by food and beverages stocks on Nestle's strong earnings, amid broader market optimism over the U.S.' plans to begin talks with Russia to end the nearly three-year-long war in Ukraine.

The pan-European STOXX 600 index .STOXX was up 0.5%, as of 0813 GMT, on track to hit a new intraday record for the sixth straight session.

Meanwhile, the German benchmark index .GDAXI and EURO STOXX index .STOXXE were also at all-time highs, rising 1% and 0.9%, respectively, in early trades. France's CAC 40 .FCHI, up 1%, was trading at its highest level since May.

U.S. President Donald Trump said Russian President Vladimir Putin and Ukraine's Volodymyr Zelenskyy expressed a desire for peace in separate phone calls with him on Wednesday.

The euro EUR=EBS jumped 0.35% to $1.0419, after Trump ordered top U.S. officials to begin peace talks.

Nestle NESN.S rose 6.5% after the maker of Nescafe coffee reported slightly better-than-expected annual sales growth. The stock boosted the food and beverages index .SX3P by 2.7%.

Automobiles .SXAP also jumped 2.6%, lifted by 5.3% jump in French tyre maker Michelin's MICP.PA full-year results.

Siemens SIEGn.DE jumped 5.4% after the engineering group reported better than expected profit for its latest quarter.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI