The European stock market in 2023: who are the big winners?

Despite early-year doubts, Europe’s stock market has defied expectations with a remarkable rebound in 2023. The Euro Stoxx 50, a key benchmark for European corporate giants, has surged by an impressive 19%, rebounding from a 12% drop in 2022.

This resurgence has been driven by a combination of factors, including easing economic concerns, improving corporate earnings, and a shift in investor sentiment.

And, against the background of the overall good performance, there are companies that stood out, posting impressive growth. 

Giants Lead the Charge

Some of Europe’s most renowned companies have led the charge in last year’s stock market rally. 

Italy’s banking giant Unicredit has been a standout performer, with its shares surging by an astonishing 84%. Stellantis, the parent company of Fiat Chrysler Automobiles and Peugeot, has also seen its stock price soar by 60%, while luxury car maker Ferrari has climbed by 57%.

In Spain, Industria de Diseno Textil (Inditex), the parent company of brands like Zara, Bershka, Pull and Bear, to name a few, has seen its stock value jump by 58%. Banco Bilbao Vizcaya Argentaria (BBVA) has also benefited from Spain’s economic recovery, with its shares increasing by 46%.

Germany’s Adidas has posted a remarkable 52% climb, reflecting a world that is re-embracing sports and active lifestyles after the pandemic. Software titan SAP has also enjoyed significant gains, with a 43% rise that underscores the accelerating digital transformation across global businesses.

French companies Compagnie de Saint-Gobain and Schneider Electric witnessed growth of 45% and 38%, respectively, highlighting the construction and energy management sectors’ resilience. Luxury brand Hermes International saw its value increase by 38%, demonstrating the continued demand for high-end consumer goods.

Denmark’s Novo Nordisk, Europe’s largest company by market capitalisation, soared 49% in 2023. The pharmaceutical giant, which is not included in the Euro Stoxx 50 index, has bucked the trend of its larger European counterparts, fueled by its strong pipeline of diabetes treatments and obesity care products like Ozempic.

Smaller Companies Shine Brightly

Beyond the limelight of these established corporations, a diverse ensemble of smaller European companies has also showcased exceptional performances. In total, 33 European stocks with a minimum market capitalisation of €500 million have enjoyed gains of at least 100% in 2023.

German tech firm Northern Data, formerly known as Northern Bitcoin, leads the pack with a staggering 310% increase in its stock value. Northern Data specialises in high-performance computing, serving the growing needs of cloud services, blockchain technology, and the emerging field of generative artificial intelligence (AI).

Portugal’s Mota-Engil, engaged in construction and infrastructure, has seen its stock surge by an impressive 238%. Following closely is Hungary’s Opus Global, an industrial conglomerate, which has climbed 228%.

British engineering stalwart Rolls-Royce Holdings is not to be left behind, with its shares taking flight with a remarkable 222% increase.

Dutch Redcare Pharmacy has capitalised on the ever-growing health sector, with its stock appreciating by 204%, securing a place in the top five performers.

After the stellar performance in 2023, the market’s resilience and growth prospects offer a promising outlook for the year ahead.


Risk warning:

This article is for information purposes only. It does not post a buy or sell recommendation for any of the financial instruments herein analysed. 

Deltastock AD assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person’s reliance upon the information on this page. 

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