BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks edged higher on
Wednesday as investors continued to assess the prospects for interest- rate cuts
following last week's weaker-than-expected U.S. jobs report.

It seems that markets have shrugged off comments from Federal Reserve Bank of
Minneapolis President Neel Kashkari, who said Tuesday that rates will likely
stay high for an 'extending period' and that he will support a hike if inflation
stalls near 3 percent.

In economic releases, Destatis reported earlier today that Germany's industrial
production dropped in March on weak consumer and intermediate goods output.

German industrial production declined 0.4 percent on a monthly basis, in
contrast to the 1.7 percent increase in February.

This was the first drop so far this year and the pace of decline was less severe
than the expected 0.6 percent fall.

The pan European STOXX 600 was up 0.4 percent at 515.92 after rallying 1.1
percent on Tuesday.

The German DAX climbed 0.6 percent, France's CAC 40 rallied 0.9 percent and the
U.K.'s FTSE 100 was up 0.4 percent.

The British pound slipped before the Bank of England's policy announcement on
Thursday.

There's little expectation of an immediate cut, but investors are looking for a
clearer signal on whether the central bank plans to start cutting interest in
the summer.

In corporate news, Netherlands-headquartered Supermarket group Ahold Delhaize
rallied 3.3 percent after beating Q1 core profit margin expectations.

Swedish builder Skanska slumped 5.5 percent after first-quarter operating
earnings came in below estimates.

AstraZeneca rallied 1.6 percent. The drug maker said it has initiated a process
to withdraw its Vaxzevria COVID-19 vaccine worldwide, citing weak demand and the
surplus availability of new vaccines.

Oil & gas giant BP Plc fell over 2 percent, a day after reporting a 45 percent
drop in Q1 earnings.

Real estate investment trust Workspace Group declined 1.7 percent after
appointing Lawrence Hutchings as its CEO designate.

Informa jumped 2.3 percent. The publishing and exhibitions company has lifted
its share buyback program by 50 percent after a strong start to 2024.

Lender HSBC Holdings gained more than 1 percent as it announced the anticipated
launch of four separate offers to purchase for cash any and all of the four
series of notes.

Alstom SA shares surged 3.4 percent in Paris. The French manufacturer of
infrastructures for rail transport sector said it is planning a capital increase
of about ¤1 billion ($1.1 billion) to shore up its finances.

Siemens Energy soared nearly 13 percent. The German power equipment maker raised
its 2024 guidance after posting strong quarterly results.

Sportswear maker Puma rallied 3.4 percent after Q1 sales met expectations.

Consumer goods giant Henkel jumped 2.1 percent after raising its sales and
earnings outlook for 2024.

Automaker BMW fell more than 3 percent after it forecast a slight drop in
pre-tax profit this year.



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