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European stocks inch up as Bayer, AB Foods support -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on November 8, 2021. REUTERS/Staff

(Reuters) – European shares remained near records Tuesday as strong corporate earnings supported sentiment while investors waited for new U.S. inflation data to get clues about the interest rate outlook.

As of 0832 GMT the pan-European had risen 0.1% to just under last week’s record high.

German agricultural and pharmaceutical company Bayer (OTC-:) rose 2.6% following the announcement of adjusted quarterly earnings that exceeded analysts’ expectations.

British stocks supported by AB Foods, Primark-owner (LON): Positive earnings outlook ()

Insurance was among the worst-performing sectors, with Munich Re in Germany falling 3.1%. Munich Re said it expects more COVID losses from its reinsurance business.

Wall Street indexes rejoiced Monday’s passage. But, worries about a higher consumer price reading Wednesday on Wednesday that could raise interest rates kept general gains under control. [MKTS/GLOB]

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