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Earnings nudge European stocks higher, virus concerns limit gains

Published 10/23/2020, 03:24 PM
Updated 10/23/2020, 03:30 PM
© Reuters.
UK100
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BARC
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MBGn
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RENA
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Oct 23 (Reuters) - European stocks inched higher on Friday,
boosted by positive earnings updates from Barclays and
carmakers, while nagging concerns about the economic impact of
surging COVID-19 cases put markets on course for weekly losses.
The pan-European STOXX 600 index .STOXX rose 0.2% by 0711
GMT, with Asian markets stuck in a trading range as investors
treaded with caution with less than two weeks to go before the
U.S. presidential election.
London's FTSE 100 .FTSE was supported by a 2.8% jump in
Barclays BARC.L after it reported much better than expected
quarterly earnings. Carmaker Daimler DAIGn.DE rose 1.9% after it raised its
2020 profit outlook, while Renault RENA.PA was up 1.5% after
saying it should have positive cash flow from cars by the end of
2020 as sales recovered. However, gains were limited as France looked set to widen a
curfew to more than two thirds of its population after the
country set an all-time daily high of new coronavirus cases on
Thursday. IHS Markit's early reading of euro zone and UK business
activity for October is due later in the day.

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