German stocks lift European markets higher; Wienerberger jumps 13%

European markets traded higher on Wednesday as investors monitored a flurry of corporate earnings releases out of the region.

The pan-European Stoxx 600 index was up 0.75% at 10:55 a.m. London time, with most sectors and all major bourses in positive territory. German stocks continued the rally that began after Germany’s federal election over the weekend, with the Dax gaining 1.3%.

Earnings were in the spotlight Wednesday, with releases coming from Adecco Group, AB InBev, E.On, Danone, Munich Re, Uniper, Stellantis, Wolters Kluwer, Aston Martin Lagonda Global Holdings, Covestro and Deutsche Telekom.

Austrian construction supplier Wienerberger was the best performer on the Stoxx 600 on Wednesday, with shares of the firm jumping 12.6% after the company raised its dividend and reported a 7% year-on-year jump in annual revenue.

Recruitment giant Adecco also moved toward the top of the index, with shares gaining 9% after the firm cut dividends and reported a 14% annual drop in full-year operating income. Adecco said in its earnings report that it had surpassed its target for general and administrative savings, delivering savings of 174 million euros in 2024.

Budweiser maker AB Inbev stock gained 7% after the company reported better-than-expected fourth-quarter sales.

U.S. stock futures rose overnight, however, with investors awaiting earnings from market bellwether Nvidia after the closing bell Wednesday. The report could be the next catalyst for the market.