European markets experienced a steady opening on Wednesday, with the positive performance of companies reporting strong earnings being counterbalanced by a decline in Deutsche Post (OTC:DHLGY).
As of 0826 GMT, the pan-European STOXX 600 index remained unchanged at 486.57 points. Notably, TeamViewer's shares surged by 10.9%, securing the top spot on the benchmark index following the German software developer's report of higher-than-expected fourth-quarter revenue and earnings.
The energy sector took center stage in a session filled with earnings reports. Vestas, the Danish wind turbine maker, saw a 6.3% increase in shares after surpassing fourth-quarter operating earnings forecasts. Conversely, Equinor experienced a 3.7% dip despite posting a higher-than-expected operating profit for the quarter.
The Norwegian oil and gas producer announced a reduction in overall payments to shareholders in 2024. Nonetheless, the oil and gas sector as a whole gained 0.2%.
The STOXX 600 index faced some downward pressure as Deutsche Post saw a 4% decline. This was attributed to Germany's state-owned KfW bank selling 50 million shares in the group for 2.17 billion euros.
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