European stock exchanges moved higher in the positive territory on Wednesday, with the DAX leading the gains following corporate news.
Investors seemed to set aside worries over US President Donald Trump's proposed tariffs on European Union goods, turning their attention to earnings reports and discussions from the World Economic Forum in Davos. European Central Bank President Christine Lagarde indicated the bank remains open to implementing larger rate cuts if necessary, which appeared to further bolster investors' sentiment in Europe.
Frankfurt's DAX surged 1.04% at 10:55 am CET. Adidas AG was one of its top performers, jumping by 6.37% after the company revealed in its preliminary earnings that its sales expanded by 19% in the closing quarter of fiscal 2024.
The Euro Stoxx 50 gained 0.62%. The CAC 40 rose 0.70% and the FTSE 100 added 0.35%. The euro traded 0.26% higher against the American dollar, selling at 1.04441, while the British pound grew 0.19% versus the greenback, going for 1.23633.
