Investing.com – European stock markets were up for a third day on Thursday, as strong corporate earnings results boosted sentiment, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 climbed 0.45%, France’s CAC 40 rose 0.4%, while Germany's DAX 30 advanced 0.55%.
The world’s biggest paint maker Akzo Nobel saw shares jump 4.4% after it reported first quarter net income rose 58% to EUR437 million, beating expectations for net income of EUR422 million. The company said it planned to raise prices and cut expenses to mitigate the rising cost of raw materials.
Meanwhile, shares in the technology sector performed strongly after Apple reported first quarter profit that almost doubled thanks to surging sales of iPhones and iPads, while mobile-phone chip producer Qualcomm also posted earnings that topped expectations, citing booming demand for smartphones.
Chip equipment maker ASML Holding rose 1.8%, Infineon Technologies jumped 1.5%, while U.K.-based ARM Holdings added 1%.
However, Royal KPN, the largest Dutch telecommunications company, saw shares tumble 6.5% after it warned that its 2011 profits were likely to be below expectations due to tough conditions in its home market.
Shares across the sector were broadly lower, with France Telecom dropping 1.5%, Deutsche Telekom slumping 1.2%, while Vodafone saw shares fall 2%.
In London, the commodity-heavy FTSE 100 edged 0.1% higher as shares in miners and oil producers led gains after gold prices rose to a record high for a fifth consecutive day and oil prices re-approached a two-and-a-half year high.
The world’s largest mining group BHP Billiton saw shares climb 1.1%, oil and gas major BP added 0.95%, while copper producer Xstrata rose 1.5% and African Barrick Gold jumped 3%.
Meanwhile, shares in the retail sector were boosted after official data showed that U.K. retail sales rose unexpectedly in March. NEXT saw shares jump 1.75%, while Tesco added 0.5%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports Morgan Stanley, General Electric and fast food giant McDonald’s.
The Dow Jones Industrial Average futures pointed to a gain of 0.35%, S&P 500 futures indicated a rise of 0.5%, while the Nasdaq 100 futures added 0.9%.
Later in the day, the U.S. was to publish official data on initial jobless claims and house prices. Also Thursday, the Federal Reserve Bank of Philadelphia was to publish an index of manufacturing activity.
During European morning trade, the EURO STOXX 50 climbed 0.45%, France’s CAC 40 rose 0.4%, while Germany's DAX 30 advanced 0.55%.
The world’s biggest paint maker Akzo Nobel saw shares jump 4.4% after it reported first quarter net income rose 58% to EUR437 million, beating expectations for net income of EUR422 million. The company said it planned to raise prices and cut expenses to mitigate the rising cost of raw materials.
Meanwhile, shares in the technology sector performed strongly after Apple reported first quarter profit that almost doubled thanks to surging sales of iPhones and iPads, while mobile-phone chip producer Qualcomm also posted earnings that topped expectations, citing booming demand for smartphones.
Chip equipment maker ASML Holding rose 1.8%, Infineon Technologies jumped 1.5%, while U.K.-based ARM Holdings added 1%.
However, Royal KPN, the largest Dutch telecommunications company, saw shares tumble 6.5% after it warned that its 2011 profits were likely to be below expectations due to tough conditions in its home market.
Shares across the sector were broadly lower, with France Telecom dropping 1.5%, Deutsche Telekom slumping 1.2%, while Vodafone saw shares fall 2%.
In London, the commodity-heavy FTSE 100 edged 0.1% higher as shares in miners and oil producers led gains after gold prices rose to a record high for a fifth consecutive day and oil prices re-approached a two-and-a-half year high.
The world’s largest mining group BHP Billiton saw shares climb 1.1%, oil and gas major BP added 0.95%, while copper producer Xstrata rose 1.5% and African Barrick Gold jumped 3%.
Meanwhile, shares in the retail sector were boosted after official data showed that U.K. retail sales rose unexpectedly in March. NEXT saw shares jump 1.75%, while Tesco added 0.5%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports Morgan Stanley, General Electric and fast food giant McDonald’s.
The Dow Jones Industrial Average futures pointed to a gain of 0.35%, S&P 500 futures indicated a rise of 0.5%, while the Nasdaq 100 futures added 0.9%.
Later in the day, the U.S. was to publish official data on initial jobless claims and house prices. Also Thursday, the Federal Reserve Bank of Philadelphia was to publish an index of manufacturing activity.