European Shares Broadly Higher Amid Earnings Deluge
European stocks were broadly higher on Thursday as investors digested mostly positive earnings results and looked ahead to the release of U.S. GDP data due later in the day for direction.
The pan European STOXX 600 was up 0.2 percent at 464.04 after declining 0.8 percent on Wednesday.
The German DAX rose 0.2 percent and France’s CAC 40 added half a percent while the U.K.’s FTSE 100 was marginally lower.
The euro hovered near a one-year high against the dollar as Europe’s resilient economy contrasted with the baking turmoil and an impending recession in the United States.
A measure of Eurozone economic sentiment ticked up slightly in April, data showed earlier in the day.
In corporate news, Germany’s Deutsche Bank jumped 2.4 percent after profit hit its highest in a decade in the first quarter.
Engine builder DEUTZ rallied 3.5 percent after sounding more confident about full-year results.
HelloFresh soared 6.3 percent after the meal-kit maker reported a smaller-than-expected decline in first-quarter core earnings.
BASF tumbled nearly 3 percent after the chemicals giant maintained its profit forecast for 2023 but warned of great uncertainty in the global economy.
Deutsche Boerse plunged 6.6 percent. The company has signed an agreement on voluntary all-cash recommended public takeover offer to acquire Danish software and services provider SimCorp A/S at a price of 735 Danish kroner per share.
British advertising group WPP fell 2.6 percent after reporting lower spending from some U.S. tech clients.
Weir Group lost 2.2 percent after the mining engineer backed its guidance for the year.
Consumer goods giant Unilever added 1.5 percent after reporting better-than-expected quarterly underlying sales.
Lender Barclays jumped 4.4 percent after first-quarter profit topped expectation.
BP Plc, Shell and TotalEnergies all fell about 1 percent after oil prices fell nearly 4 percent overnight on demand worries.
Schneider Electric rose over 2 percent after reporting a rise in Q1 revenue and lifting its FY23 organic growth view.
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