European stocks rebounded on Wednesday, as euro-area growth gathered pace in the first quarter and amid strong earnings from several corporates. In London, paper and packaging producer Mondi was up after posting a 29% up rise in first-quarter underlying profit, which it attributed to volume growth and lower input costs across Europe, good contributions from capital projects and acquisitions, notably in the U.S., and higher selling prices in Russia and South Africa. Brewer SABMiller was also up after the world’s No. 2 brewer posted a greater-than-expected adjusted Ebtida of $6.37 billion in the year ended March 31. Among decliners, RWE was down in Frankfurt after Germany’s largest power company stuck to its 2015 earnings forecast and warned that the country’s new climate change targets unveiled in March may have a “substantial negative impact.”
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