Europe's STOXX 600 near record high as Siemens Energy, CoreWeave outlooks lift sentiment

By Johann M Cherian and Anjana Jayakrishnan Nair

Nov 11 (Reuters) - Europe's STOXX 600 index opened higher and traded near record highs on Wednesday, as strong forecasts from Siemens Energy and US-based CoreWeave helped ease concerns about the AI trade outlook, while inflation worries kept a lid on gains.

The pan-European index gained 0.7% to 662.83 points by 0807 GMT and was just a whisker away from breaching record levels reached in August. 

AI equipment maker Siemens Energy gained 6.5% on expectations of higher profit margins in 2027. The company announced plans to more than triple its dividend. 

Shares of its peers Schneider Electric and Legrand gained around 2.6%, while the broader tech sector added 1.7%.  

Neocloud company CoreWeave said it would become profitable on an adjusted basis in the first half of 2028. 

Among laggards on the STOXX index, wind turbine operator Vestas fell 6%, after reporting third-quarter operating profit below market estimates.

Czech-based ammunition and arms producer CSG tanked 18% after cutting its full-year operating margin forecast.

A rebound in Brent crude prices following shipping attacks in the Strait of Hormuz stoked some caution, a day after hotter-than-expected US inflation data lifted expectations for a December interest rate hike by the Federal Reserve. 

(Reporting by Anjana J Nair; Editing by Harikrishnan Nair)