European stocks have begun the day higher on Wednesday after a positive close on Wall Street. The FTSE 100 is currently trading 0.14% higher following recent UK borrowing figures posted by the ONS.

As for stocks, Bunzl, Supply@ME and Pets at Home were some of the top stories from Wednesday.

Bunzl

• Bunzl announced its pre-close trading statement, as the group expects to deliver very strong growth river the year.
• Group revenue is expected to increase year-on-year by approximately 17%, with inflation driving revenue and the impact of acquisitions supplementing further growth.
• The group sees continued uncertainties going forward but expects operating profit in 2023 to be resilient.

Supply@ME

• Supply@ME has provided an update on its strategic alliance with VeChain Foundation.
• Currently, the total value of the initial warehoused goods is approximately €1.6 million, with the average annual fees over the duration of the inaugural IM transaction equating to 3% of the gross value.
• The company is pleased to confirm the inaugural IM transaction continues to produce the expected returns for both SYME and the stock company.

Pets at Home

• Pets at Home announced some small changes to its board of directors on Wednesday.
• The group appointed Roger Burnley as the new independent non-executive director, with effect from 14 February 2023.
• Elsewhere, Sharon Flood, current Chair of the Remuneration Committee and Stanislas Laurent, non-executive director, have notified their intention to step down from the board.
• Finally, Senior Independent Director Dennis Millard will stand down for that position on 14 February, having served 9 years on the company’s board.