European Markets Soar Amid Beverage Boost and U.S. Inflation Anticipation

European shares hit a record high led by beverage stocks following Heineken's earnings. The STOXX 600 and Germany's DAX rose, with Heineken and Anheuser-Busch InBev seeing notable gains. Investors monitored U.S. inflation data for Federal Reserve clues, alongside Trump's tariff announcements and Powell's Congressional testimony.

In a significant market movement, European shares extended their rally to achieve a new high on Wednesday, primarily fueled by robust performances from beverage stocks. Heineken led the charge with an impressive 11.7% gain following its announcement of better-than-expected profits and a promising forecast for continued growth.

The STOXX 600 index, a benchmark for European markets, nudged up by 0.2% at 0812 GMT, marking a historic close on Tuesday. Germany's benchmark also rose by 0.2%, driven by Heineken's surge and similar gains by brewing peer Anheuser-Busch InBev, which saw its shares climb 4.4%.

As investors awaited critical U.S. inflation data and Federal Reserve Chair Jerome Powell's testimony, they also kept an eye on potential impacts from President Trump's tariff plans, particularly his bid for reciprocal tariffs on nations imposing duties on U.S. goods.

(With inputs from agencies.)