Europe close: Stocks rise to record highs
By Alexander Bueso
Date: Wednesday 22 Jan 2025
(Sharecast News) - European shares finished on a mixed note on Wednesday boosted by optimism that threatened tariffs by US President Donald Trump may not be as severe as first feared, while Adidas shares were in focus after upbeat fourth-quarter results, sending Germany's DAX index also to a record high.
The pan-regional Stoxx 600 ended the day up by 0.39% at 528.04, having earlier hit a record 530.55 points.
Britain's FTSE 100 also hit a fresh intra-day record, as did the German Dax, as investors shrugged aside concerns that new US President Donald Trump would hit Europe with new tariffs.
"An absence of economic news today has not prevented a small recovery in the greenback," said IG chief market analyst Chris Beauchamp.
"Fears (or hopes) of immediate tariffs have been misplaced so far, but the announcement of a $500 billion investment by Softbank and others suggests that businesses will continue to flock to the US economy now that Trump is in power."
In economic news, Britain's government borrowed £17.8bn in December, up £10.1bn from a year earlier and more than the £14bn forecast by economists.
Adidas jumped 6% on strong holiday period sales and profit. The news helped rival Puma to gain 2.5%. Germany's DAX index outperformed the regional benchmark, rising 1.30% and hitting a new record of 21,332 before settling back to 21,314.
Munters Group surged as the Swedish climate control company benefited after Trump announced plans to invest $500bn in AI infrastructure over the next four years. The company provides air conditioning for data centres.
EasyJet fell 5% despite narrowing losses, while chocolate maker and cocoa processor Barry Callebaut also slumped after reporting lower-than-expected sales volume for the first quarter due to delayed orders as clients renegotiate product prices as cocoa costs hit record highs.
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