Siemens shares jump 7% as AI demand boosts profit outlook; European markets trade higher

In this articleLONDON — European stocks were higher on Thursday as investors assessed another big batch of earnings reports.The pan-European Stoxx 600 was up 0.4% shortly after 8:30 a.m. in London (3:30 a.m. ET), with most sectors and major bourses in positive territory. The positive open for regional bourses comes after markets closed mixed on Wednesday, as investors assessed another flurry of corporate earnings. Shares of engineering giant Siemens rose 6.9% after the company raised its outlook for basic earnings per share from net income to a range of 10.7 euros to 11 euros for the fiscal year 2026. It previously targeted a range of 10.4 euros to 11 euros.Shares in Paris-based luxury house Hermès were up more than 3% in early dealmaking after recording a 9.8% jump in fourth-quarter revenue, aided by strong sales in the U.S. and Japan, with operating profit at 6.6 billion euros ($7.8 billion), beating estimates. That helped boost other luxury names, with LVMH gaining 1.3%, Gucci owner Kering adding 1.2% and Richemont rising almost 1.3%.On the flipside, Dutch fintech Adyen was down 17.4% after posting a 17% increase in net revenue.

The Magnum Ice Cream Company tumbled 13.6% as the Amsterdam-listed Unilever spinoff reported a 48% drop in full-year profits.Shares in Mercedes-Benz Group were down 4.3%. The German carmaker's earnings showed its 2025 operating profit fell 57% as it battled China competition and global tariffs.Shares in London-listed Schroders spiked almost 30% after U.S. investment manager Nuveen announced it was buying the U.K.'s biggest standalone asset manager for £9.9 billion ($13.5 billion), creating one of the world's largest fund managers with some $2.5 trillion in assets.Elsewhere, Deutsche Boerse, which also reported earnings Thursday, was up about 1% after the German exchange operator said it was buying General Atlantic's 20% stake in index provider ISS STOXX for $1.3 billion.The bumper day for corporate earnings also saw Siemens, L'Oreal, Anheuser-Busch Inbev, and British American Tobacco among the companies reporting. U.K. fourth quarter GDP and industrial production figures are due on the data front.In Asia Pacific markets overnight, Japan's Nikkei 225 hit 58,000 for the first time in history, extending its post-election rally to fresh highs.Meanwhile, U.S. futures tied to the Dow Jones Industrial Average were little changed Wednesday night after the blue-chip index's three-day win streak came to an end.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.

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