European Stocks Rise, Investors' Attention Returns to Financial Reports
European stock markets rallied on Wednesday (May 13th), with the Euro STOXX 50 rising 0.4% as it attempted to break its four-session downtrend, while the STOXX 600 gained 0.7%. Sentiment improved as investor focus returned to issuer performance, although the market remained vigilant about developments in the Middle East, which showed no signs of abating.
Several company performance reports were key drivers. Allianz rose 1.6% after posting record first-quarter revenue and profit. Merck surged nearly 8% after reporting a smaller-than-expected profit decline and raising its 2026 guidance. E.ON also rallied nearly 4% after posting a slight increase in core earnings.
The gains were also supported by gains in other major stocks, including ASML Holding (+2.2%), HSBC (+1.1%), ABB (+1.2%), and UBS (+2.0%). The shift in attention to earnings helped the market reassess the prospects for key sectors, especially as geopolitical factors still have the potential to trigger sentiment volatility.
On the other hand, some stocks held back despite positive corporate news. Siemens fell 0.8% despite posting above-expected net profit and announcing a new €6 billion buyback program. RWE weakened 0.7% due to less than convincing results, while LVMH fell 1.1%, holding back the broader index's gains. (asd)
Source: Newsmaker.id
