Hopes for Peace Lift European Markets
European stock markets rose during Wednesday's trading (August 5) as investors monitored corporate earnings reports and developments in US-Iran negotiations. The STOXX 600 index climbed approximately 0.4% to 659.29 after US President Donald Trump described talks with Iran as going very well. Mining stocks led the gains, rising about 2.4%.
Individual stock performance was mixed. Novo Nordisk fell 3.5% despite raising its annual sales and profit forecasts, as the market was disappointed by sales of the Wegovy pill and trial results for the obesity drug CagriSema. Conversely, Sandoz surged 7% after reporting 9% sales growth for the second quarter.
Siemens Energy rose 3.9% after posting its best-ever third-quarter results, driven by high demand linked to AI data center construction and the Middle East region. Market sentiment in Europe remains positive, though the rally's continuation will depend on the outcome of Hormuz negotiations and the ability of companies to sustain profit growth. (asd)
Source: Newsmaker.id