Europe ends mixed as investors digest earnings

Europe ends mixed as investors digest earnings
Europe ends mixed as investors digest earnings   

European shares finished mixed on Wednesday, as investors digested a slew of earnings from European companies.

The pan-European Euro Stoxx 600 Index closed around the flatline, with most sectors in the red after a choppy session. In the U.S., stocks traded in a narrow range on Wednesday as investors weighed mixed reports from major corporations.

London's FTSE and Germany's DAX ended around 0.5 percent lower, while the French CAC closed around 0.3 percent higher.

Volvo soars 15%

Symbol
Name
Price
 
Change
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FTSE
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DAX
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CAC
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IBEX 35
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Outperformers included Volvo, with shares of the Swedish carmaker trading higher by almost 15 percent after posting a forecast-beating quarterly profit and naming a new CEO.

Meanwhile, Tesco shares slipped over 5 percent as investors digested the news that the U.K. supermarket chain posted a full-year pre-tax loss of £6.38 billion ($9.5 billion) on Wednesday.

Roche shares also traded 1.75 percent higher after it reported quarterly sales up 3 percent.

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Shares of Heineken fell around 3 percent, despite reporting a sharp rise in net profit in the first quarter of 579 million euros, up from 143 million euros in the same period a year earlier.

Shares of Visa and MasterCard jumped by as much as 7 percent and 5 percent respectively, in high-volume trade, following China's announcement that the country will open its market for clearing domestic bank card transactions.

In other news, European Union antitrust regulators charged Russian gas giant Gazprom on Wednesday with abusing its dominant position in Poland, Hungary and six other countries in Eastern Europe following more than two years of investigation.

Elsewhere, Greece remains in focus on Wednesday. Greek Finance Minister Yanis Varoufakis said on Tuesday that he was confident Greece would reach a deal with its international lenders, although this may not happen in the upcoming meeting of euro zone finance ministers on April 24, he told reporters in Athens, Reuters said Tuesday.

Markets will keep an eye on a meeting between Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel on the sidelines of an EU summit in Brussels on Thursday.

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