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Europe edges higher as robust earnings offset U.S. stimulus doubts

Published 10/07/2020, 03:22 PM
Updated 10/07/2020, 03:30 PM
TSCO
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DLGS
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STOXX
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STORYb
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 7 (Reuters) - European stocks edged higher on Wednesday
as upbeat earnings reports from UK's Tesco and Germany's Dialog
Semiconductor helped offset uncertainties surrounding a fresh
U.S. stimulus package.
The pan-European STOXX 600 index .STOXX rose 0.2% by 0711
GMT.
Asian stocks and U.S. futures also recovered after sharp
losses on Wall Street after U.S. President Donald Trump on
Tuesday abruptly called off talks with Democratic lawmakers on
coronavirus relief legislation until after the election.
.N
Dialog Semiconductor DLGS.DE jumped 5.4% to the top of
STOXX 600 after it forecast better-than-expected revenue in its
third quarter. Britain's biggest supermarket chain Tesco TSCO.L gained
3.6% as it reported a jump in sales and forecast full-year
retail operating profit to be at least the same level as
2019-20. Swedish audiobook streaming group Storytel STORYb.ST was
up 3.2% after it beat its third-quarter forecast for subscriber
growth and streaming revenue.

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