BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on
Wednesday, though the upside remained capped after an ECB policymaker said that
a possible June rate cut might not be followed by more.

Joachim Nagel, president of Germany's Bundesbank, said in a speech at the DZ
Bank Capital Markets Conference 2024 that a June interest rate cut from the
European Central Bank might not necessarily be followed by a series of rate
cuts.

Meanwhile, investor sentiment was underpinned after survey data from the ifo
Institute showed business sentiment in the country improved in April.

The business confidence index climbed to 89.4 in April while economists had
forecast the score to rise moderately to 88.9 from March's initially estimated
value of 87.8.

The pan European STOXX 600 edged up 0.1 percent to 508.30 after rallying 1.1
percent on Tuesday.

The German DAX gained 0.3 percent, France's CAC 40 edged up 0.2 percent and the
U.K. FTSE 100 was up half a percent, surging to a fresh record high.

Water processing equipment supplier ASM International jumped 10 percent. The
company raised its Q2 revenue forecast after beating analyst estimates for
revenue and earnings in the first quarter.

Swedish automaker Volvo Cars lost 8 percent as Q1 revenue came in below
expectations.
Lender Handelsbanken plummeted more than 10 percent after first-quarter earnings
missed analyst estimates.

Drugmaker Roche declined 2.6 percent on reporting a 6 percent fall in
first-quarter sales.

German biotech Evotec SE slumped 32 percent after reporting its full-year
results and naming a new chief executive.

French luxury group Kering plunged 8 percent after a profit warning and amid
concerns about declining demand for its Gucci brand.

Air Liquide dropped 1.5 percent on reporting a fall in sales for the first
quarter.

Casino Guichard-Perrachon surged 3 percent. The company said it is embarking on
a transformation plan aimed at aligning its organization with the Group's new
scope.

Sound Energy fell 2.6 percent in London after the upstream gas company slipped
to a loss in FY23 as expressed concern about continuing as a going concern.

Engineering group Filtronic soared 48 percent after announcing a strategic
partnership and commercial agreement with Space Exploration Technologies Corp.

Fresnillo was down about 1 percent after reporting a drop in Q1 gold and silver
output.

Reckitt Benckiser jumped 5.4 percent as it reported Q1 like-for-like net revenue
growth of 1.5 percent.



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