Europe open: Stoxx hits new record ahead of US CPI; Heineken surges

(Sharecast News) - European markets hit fresh records again at the open on Wednesday led by upbeat results from drinks giant Heineken, while traders also had an eye on US inflation data later in the day. The pan-regional Stoxx 600 was up 0.21% in at 548.35 in early deals, having hit 548.54. Major stockmarkets on the Continent were also in bullish mood, with Germany's DAX setting new records.

US headline inflation is forecast to show month on month growth of 0.3% and 2.9% on an annualised basis and core CPI - which strips out volatile items such as energy and food - anticipated to dip to 3.1%.

"There's an overarching sense of calm in the air, perhaps a little unnerving given the storm of political drama we've become accustomed too since (US President Donald) Trump took office," said Hargreaves Lansdown analyst Matt Britzman.

"US inflation data has scope to upset the apple card later today, but for now at least, it's robust company earnings that are driving markets forward."

In equity news, Heineken shares surged after the brewer reported better-than-expected operating profits and unveiled a £1.5bn share buyback program along with a higher dividend. The news lifted rivals AB InBev and Carlsberg.

Reporting by Frank Prenesti for Sharecast.com