European stocks closed mostly higher on Wednesday, extending the rebound from last session as markets parsed a batch of economic data and key earnings results.
The Eurozone’s STOXX 50 inched 0.3% higher to 5,393, while heavier subsectors of healthcare and miners drove the pan-European STOXX 600 to close flat at 550.
The Eurozone GDP grew 0.1% in Q2, led by expansions in France and Spain while the GDP in Germany and Italy contracted 0.1%.
On the corporate front, L’Oréal rebounded 4% after posting higher sales in the US and China.
UBS added 1% after posting a robust Q2.
Kering jumped 1.6% despite reporting a revenue decline and BASF was flat, even after disclosing a fall in sales.
On the other hand, Hermès fell 4.5% after its results disappointed investors and HSBC tumbled 2.9% despite reporting revenue growth and announcing a $3 billion share buyback.
Adidas sank nearly 7% after posting weaker-than-expected revenue growth, and Novo Nordisk extended this week’s plunge with a 6% drop.