Europe's STOXX 600 nears record high as Siemens Energy and CoreWeave forecasts lift sentiment

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Europe’s STOXX 600 nears record high as Siemens Energy and CoreWeave forecasts lift sentiment

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Global Indices

Europe's STOXX 600 opened higher on Wednesday and traded near record highs after strong forecasts from Siemens Energy and CoreWeave eased concerns about the AI trade outlook. Inflation worries kept a lid on gains.

The STOXX 600 gained 0.7% to 662.83 points by 0807 GMT, just a whisker away from the record levels it reached in August. Strong forecasts from Siemens Energy and US-based CoreWeave helped ease concerns about the AI trade outlook, according to Reuters.

Siemens Energy gained 6.5% on expectations of higher profit margins in 2027. The company also announced plans to more than triple its dividend. Peers Schneider Electric and Legrand gained around 2.6%, while the broader tech sector added 1.7%.

CoreWeave, a neocloud company, said it would become profitable on an adjusted basis in the first half of 2028.

Not every stock rose. Wind turbine operator Vestas fell 6% after reporting third-quarter operating profit below market estimates. Czech-based arms producer CSG tanked 18% after cutting its full-year operating margin forecast.

Caution also held back gains. A rebound in Brent crude prices following shipping attacks in the Strait of Hormuz stoked some caution, a day after hotter-than-expected US inflation data lifted expectations for a December interest rate hike by the Federal Reserve.

Source: Reuters via Investing.com

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