Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

European stocks edge higher on upbeat earnings; Dax up 0.14%

Published 07/31/2015, 04:52 AM
Updated 07/31/2015, 04:52 AM
© Reuters.  Frankfurt Stock Exchange

© Reuters. Frankfurt Stock Exchange

Investing.com - European stocks edged higher on Friday, supported by a good batch of corporate earnings reports, although disappointing data German retail sales limited gains.

During European morning trade, the EURO STOXX 50 edged 0.15% higher, France’s CAC 40 gained 0.46%, while Germany’s DAX 30 added 0.14%.

Earlier Friday, official data showed that German retail sales dropped 2.3% in June, confounding expectations for a 0.3% rise, after a revised 0.4% uptick the previous month.

Financial stocks were mixed, as French lenders Societe Generale (PARIS:SOGN) declined 0.41% and BNP Paribas (PARIS:BNPP) surged 3.04%, while Germany's Deutsche Bank (XETRA:DBKGn) advanced 0.82%.

BNP Paribas, France’s largest bank, earlier reported a swing to its highest quarterly profit in more than three years.

Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) rallied 0.95% and Unicredit (MILAN:CRDI) slipped 0.17% in Italy, while Spanish banks Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) retreated 0.54% and 1.37%.

Elsewhere, Airbus Group (PARIS:AIR) SE surged 2.98% after posting an increase in earnings, thanks to higher deliveries of civil airliners.

Vinci SA (PARIS:SGEF) added to gains, with shares up 2.28%, after Europe’s biggest builder raised its earnings target for 2015.

Shares in ArcelorMittal SA (AMS:ISPA) rallied 1.68% after the company said profit exceeded analysts’ estimates.

In London, commodity-heavy FTSE 100 dipped 0.04%, weighed by sharp losses in the mining sector.

Shares in Bhp Billiton (LONDON:BLT) and Rio Tinto (LONDON:RIO) dropped 0.73% and 0.88% respectively, while Glencore (LONDON:GLEN) tumbled 1.80% and Antofagasta (LONDON:ANTO) plummeted 2.58%.

InterContinental Hotels Group PLC (LONDON:IHG) saw shares plunge 2.48% after denying it is in merger talks with Starwood Hotels & Resorts Worldwide (NYSE:HOT) Inc.

Meanwhile, finacial stocks were steady to lower, with HSBC Holdings (LONDON:HSBA) inching up 0.06% and the Royal Bank of Scotland (LONDON:RBS) dipping 0.04%, while Lloyds Banking (LONDON:LLOY) declined 0.77%. Barclays (LONDON:BARC) overperformed however, with shares rising 0.24%.

In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.04% uptick, S&P 500 futures signaled a 0.06% gain, while the Nasdaq 100 futures indicated a 0.08% rise.

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.