European markets in the black: index growth amid corporate reporting

On Wednesday, the stock indexes of the leading countries of Western Europe ended trading in positive territory, reacting to published statistics and quarterly reports of companies. 

The Stoxx Europe 600 composite index rose 0.49% to 504.1 points. The British FTSE 100 continued to grow for the fourth consecutive session, reaching a 0.56% gain. The German DAX and the French CAC 40 also showed positive dynamics, increasing by 0.41% and 0.79%, respectively. Italy's FTSE MIB gained 1% and Spain's IBEX 35 gained 0.3%. 

The eurozone economy grew by 0.3% in the second quarter of 2023 compared to the previous quarter, confirming preliminary data. In annual terms, GDP increased by 0.6%. Inflation in the UK accelerated to 2.2% in annual terms in July, exceeding June's 2%. French inflation also accelerated to 2.7% year-on-year. 

Shares of UBS Group AG rose 5% after the publication of the quarterly report with net profit twice the expectations of analysts. German energy company E.ON SE reported a 24% decrease in adjusted profit in the first half of the year, which led to a 2.9% drop in stock prices. RWE shares fell 5.7% after a 30% reduction in adjusted EBITDA in the first half of the year due to lower electricity prices. 

German industrial group Thyssenkrupp ended the third quarter with a net loss, confirming its annual forecast. Its shares fell by 6.3%. Shares of Shell and TotalEnergies rose by 0.9% and 0.2%, respectively.