European stocks rise as earnings await

European stocks opened higher on Wednesday, as investors awaited corporate earnings across the region.

The pan-European Stoxx 600 index rose more than 5% to 557.21 points, with most sectors and all major bourses posting gains. Mining and food and beverages were among the top gainers.

According to CNBC, Germany’s DAX rose 0.8% to 22,591.29 points, the UK’s FTSE 100 rose 0.6% to 8,724.13 points and France’s CAC 40 rose 0.7% to 8,106.58 points.

Corporate earnings are in focus today, with earnings reports from Adecco Group, AB InBev, E.ON, Danone, Munich Re, Uniper, Stellantis, Wolters Clover, Aston Martin Lagonda Global Holdings, Covestro and Deutsche Telekom.

Budweiser beer maker AB InBev jumped more than 7% to the top of the STOXX 600 in early trade, after reporting better-than-expected quarterly sales.

Asia-Pacific markets were mixed overnight, with sentiment weighed by Wall Street’s further losses on Tuesday after a U.S. consumer confidence reading came in much weaker than economists had forecast.