Nov 11 (Reuters) – Europe’s STOXX 600 index opened higher and traded near record highs on Wednesday, as strong forecasts from Siemens Energy and US-based CoreWeave helped ease concerns about the AI trade outlook, while inflation worries kept a lid on gains.
The pan-European index (.STOXX), gained 0.7% to 662.83 points by 0807 GMT and was just a whisker away from breaching record levels reached in August.
AI equipment maker Siemens Energy (ENR1n.DE), gained 6.5% on expectations of higher profit margins in 2027. The company announced plans to more than triple its dividend.
Shares of its peers Schneider Electric (SCHN.PA), and Legrand (LEGD.PA), gained around 2.6%, while the broader tech sector added 1.7%.
Neocloud company CoreWeave (CRWV.O), said it would become profitable on an adjusted basis in the first half of 2028.
Among laggards on the STOXX index, wind turbine operator Vestas (VWS.CO), fell 6%, after reporting third-quarter operating profit below market estimates.
Czech-based ammunition and arms producer CSG (CSG.AS), tanked 18% after cutting its full-year operating margin forecast.
A rebound in Brent crude prices following shipping attacks in the Strait of Hormuz stoked some caution, a day after hotter-than-expected US inflation data lifted expectations for a December interest rate hike by the Federal Reserve.
Reporting by Anjana J Nair; Editing by Harikrishnan Nair
