European stocks climb on strong earnings reports -Breaking
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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on April 27, 2022. REUTERS/Staff(Reuters] European shares gained for the second consecutive session Thursday after a series of positive earnings forecasts helped put aside worries about slowing global growth.
Pan-European Index rose 0.7% to 0707 GMT. All regional bourses were in the black. To lead the sectoral gains, travel and leisure stocks rose 2.1% while miners fell behind.
Standard Chartered, a British bank, climbed 10.1% after reports of positive quarter-end earnings. Spain’s Banco Sabadell climbed 5%.
Delivery Hero, an online German take-out food business, saw 8.1% growth after claiming it is on track to achieve a positive adjusted core margin for its food delivery service. HelloFresh posted 10.9% gains on the back of strong results.
Swedbank, the Swedish banking group that manages Swedbank in Sweden fell 5% following narrowly exceeding profits estimates.
Meta Platforms Inc’s better-than-expected results were expected to lift Wall Street, as Frankfurt-listed shares surged 18.3%.
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