Stoxx 600, FTSE, DAX, UBS, Novo Nordisk earnings

LONDON – European stock markets closed marginally higher on Wednesday amid a slew of corporate earnings reports across the region.

pan-european Stocks 600 The stock had risen provisionally by 0.1% by the close of trading. british FTSE Like Germany, which rose nearly 1%. dachshund France decreased by 0.6%. CAC40 Italy rose by 1.2%. FTSE MIB Add 0.6%.

The rally came as regional markets calmed down following temporary declines in cryptocurrencies and precious metals.

Santander Shares were trading 3.6% lower after the bank announced it would acquire U.S. regional lender Webster Bank in a deal valued at $12.2 billion. Santander also announced its fourth-quarter results a day earlier, with three-month net profit of 3.76 billion euros ($4.45 billion), beating consensus estimates of 3.41 billion euros, and the Spanish lender also announced a new 5 billion euro share buyback program.

Novo Nordisk fell 4.9% after its share price fell 18% in early trading. The company announced its financial results on Tuesday ahead of schedule. The company warned investors that sales and profit growth will slow this year due to falling prices in the United States and the end of exclusive sales of blockbuster weight-loss drugs Wigovy and Ozempic in China, Brazil and Canada.

Focused on revenue Novartis, GSK, Infineon TechnologiesEquinor, credit agricoleHandelsbanken, carlsbergand OMV both posted their financial results on the same day.

share in UBS Shares fell 6.3% after Switzerland’s largest lender reported a net profit of $1.2 billion in its fourth quarter, up 56% from a year earlier and beating analysts’ estimates of $919 million.

Asia-Pacific markets were mostly lower overnight, but gold rose for the second day in a row, tracking Wall Street’s losses after a fall in US technology stocks weighed on prices in pre-market trading.

of S&P500 Stocks fell on Wednesday as traders continued to exit tech stocks and a key jobs report for January was weaker than expected.