Europe open: Shares hit record highs, Lufthansa returns to profit
European shares hit record levels at the opening on Wednesday as a return to profit from Lufthansa helped lift investor sentiment ahead of key central bank meetings this week.
The pan-European Stoxx was flat having risen 0.2% in early deals. The US Federal Reserve is expected to announce a tapering of its its $120 billion monthly bond-buying programme and the Bank of England tipped to lift interest rates amid rising inflation.
In equity news, Lufthansa was up 4% as the airline posted a return to profit for the first time since the coronavirus crisis, boosted by the easing of travel restrictions.
BMW edged ahead as the German automaker reported higher quarterly profit, though it reiterated its warning on the global chip crunch.
Shares in remote working software maker Teamviewer rose 7% as the company maintained annual guidance and said it would reconfigure growth initiatives and cost structure.
Shares in Vestas, the world’s largest maker of wind turbines, slumped 11% after posting a lower-than-expected third-quarter operating profit and trimming its full-year profit forecast.