Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
European shares extend gains on upbeat Nestle, Volvo earnings
Published at 22/04/2021 at 08:17

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

April 22 (Reuters) - European stocks moved towards record highs on Thursday after stumbling earlier in the week, as a set of strong earnings reports brightened sentiment ahead of the European Central Bank's policy decision.

The pan-European STOXX 600 index rose 0.4% by 0707 GMT, extending gains for a second straight session after fears of a new wave of COVID-19 cases pushed European markets to their worst day in 2021 on Tuesday.

Nestle rose 2.2% after reporting its strongest quarterly sales growth in 10 years, helped by demand for coffee, dairy and petcare products.

Swedish truckmaker AB Volvo jumped 4.6% as it beat market expectations for first-quarter core earnings on the back of surging demand.

Credit Suisse fell 5.7% after it posted a 757 million Swiss franc ($825.97 million) pre-tax loss in the first quarter, as the Archegos hit wiped out gains from bumper trading.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

((; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787))