European Stocks Surge to New Highs on Holiday Quarter Gains
European equity markets continued their upward trajectory on Wednesday, buoyed by strong performance in the healthcare and retail sectors.
The STOXX 600 index gained 0.5% by 0822 GMT, reaching its highest point since late September 2024. Healthcare stocks led the rally, with a 1.1% rise driven by Novo Nordisk's 2.7% gain.
Adidas topped individual gainers, soaring 6% after reporting better-than-anticipated preliminary Q4 results. The German sportswear giant cited robust sales and profitability during the crucial holiday shopping period. Puma also climbed 2.5%.
Germany's DAX index outperformed its European peers, surging 0.9% to notch a record high. This positive market sentiment persisted despite US President Trump's threats of new tariffs on the EU and China.
Meanwhile, Schaeffler plunged 15% after releasing lower-than-expected 2024 preliminary results.