Europe open: Shares march on ahead of rate calls; JDE Peet's surges

31st Jul 2024 08:13

(Sharecast News) - European shares continued to rally on Wednesday as investors looked ahead to eurozone inflation data, rate decisions from the US and UK amid another dump of corporate earnings.

The pan-regional Stoxx 600 index was up 0.88% at 515 in early deals. Investors were also taking stock of a rate rise from the Bank of Japan - only its second increase since 2007.

The US Federal Reserve is expected to keep rates on hold as it ends a two-day policy meeting, while the Bank of England meets a day later for its latest decision.

In equity news, shares in coffee and tea company JDE Peet's surged as the company raised its full-year sales growth forecast, after reporting half-year results above analysts' expectations.

HSBC interim results beat analyst expectations, while the Asia-focused bank also unveiled a $3bn buyback and said farewell to CEO Noel Quinn.

Just Eat shares rose as the food delivery company said it was buying back €150m in shares after a rise in interim core profits.

Reporting by Frank Prenesti for Sharecast.com