Black Friday Sale! Save huge on InvestingProGet up to 60% off

European shares propped up by upbeat earnings

Published 10/19/2020, 03:21 PM
Updated 10/19/2020, 03:30 PM
© Reuters.
PHG
-
BAER
-
DANO
-
LVMH
-
PERP
-
HRMS
-
STOXX
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Oct 19 (Reuters) - European stocks rose in early trading on
Monday as strong earnings updates from Dutch firm Philips and
Swiss wealth manager Julius Baer overshadowed worries about
fresh coronavirus restrictions across the continent.
The pan-European STOXX 600 index .STOXX rose 0.8% by 0711
GMT, resuming gains after posting small weekly losses.
With European third-quarter earnings set to recover from a
pandemic-led slump, health technology company Philips PHG.AS
rose 3.2% as it reported a much better-than-expected 32% jump in
core earnings. Julius Baer BAER.S gained 5.3% after it indicated an
improvement in profitability for the first nine months of 2020
as client activity increased and it cut costs. Danone DANO.PA , the world's largest yoghurt maker,
advanced 2.3% as it reinstated its forecasts for 2020 and said
it was launching a review of its assets. Luxury stocks such as LVMH LVMH.PA , Hermes HRMS.PA and
Pernod Ricard PERP.PA rose more than 1% after China reported a
better-than-expected retail sales growth in September.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.