Investors were scooping up shares of JDE Peet’s on Wednesday after the Dutch coffee group reported strong results, while Danone and Stellantis were also shining on a positive day overall for European markets.
The Stoxx Europe 600 index
climbed 0.7% to 458.51, with markets somewhat slightly less stressed about over Russia-Ukraine worries, yet not taking their eyes off that crisis. More sanctions rolled out from countries against Russia, but investors viewed those measures as less severe than expected.
The German DAX
viewed as most vulnerable to Russia stress given its dependence on natural gas from that country, rose 0.8%, w hile the French CAC 40
climbed 1.2% and the FTSE 100
was up 0.5%. The euro
were both up modestly against the dollar.
European gas prices, based on the Dutch Title Transfer Facility futures, climbed over 7%.
stock surged 15% after the owner of Douwe Egberts, Peet’s Coffee and L’Or brands reported doubling of profits last year as coronavirus-induced restrictions were lifted across its regions. The company expects to deliver double-digit organic sales growth in 2022, and declared a 2021 dividend of 70 euro cents.
shares rose nearly 5% after the French food giant reporting 1.92 billion euros ($2.17 billion) in net profit, and a 1.1% drop in recurring net income to EUR2.17 billion that still beat forecasts. Full-year sales increased 3.4% on a like-for-like basis and the company said it would propose a dividend of EUR1.94 a share for 2021.
Investment vehicle Porsche Automobil Holding
climbed 6%, with the stock continuing to gain after a day after Volkswagen
said it was considering a spinoff of Porsche with its own separate listing.
On the downside, Storskogen Group
stock sank 18% after worse than expected results from the Swedish investment group.