(Reuters) – European shares extended gains to hit a record high on Wednesday, supported by stocks of beverage makers following Heineken’s strong earnings, while investors awaited a key U.S. inflation data.
The pan-European STOXX 600 index was up 0.2%, as of 0812 GMT, after hitting a record close on Tuesday. Germany’s benchmark was up 0.2% at an all-time peak.
Heineken jumped 11.7% after the brewer reported better-than-expected profit, launched a share buyback and predicted more growth next year.
Its peer Anheuser-Busch InBev also jumped 4.4%, while food and beverages index soared 1.7% to the top of STOXX 600 index.
Banco BPM rose 2.1% after Italy’s third-largest bank upped targeted profits and payouts for investors through 2027 as it reported strong 2024 results.
The stock boosted the index of European banks by 0.7%.
Investors awaited January U.S. consumer price data for clues on the Federal Reserve’s monetary policy outlook.
This will be followed by Fed Chair Jerome Powell’s second day of testimony before Congress.
Investors also looked out for developments from U.S. President Donald Trump’s tariff announcements, with latest being his plans for the reciprocal tariffs on every country that charges duties on U.S. imports.
(Reporting by Nikhil Sharma; Editing by Rashmi Aich)
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