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
/fxcentre/i-want-to/read-news
Unilever, Nokia earnings push European shares towards record high
Published at 29/04/2021 at 08:25

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

April 29 (Reuters) - European stocks edged back towards record-highs on Thursday after a slew of upbeat earnings reports and the U.S. Federal Reserve's pledge to stick to loose monetary policy.

The pan-European STOXX 600 index rose 0.4% by 0713 GMT, trading just about 3 points below its record peak.

Consumer goods giant Unilever rose 3.2% as a pick up in home cooking and a strong economic recovery in China drove better-than-expected quarterly sales. The company also announced a share buyback programme up to 3 billion euros ($3.6 billion).

Finnish telecom network equipment maker Nokia surged 13.7% as growth in sales of network and 5G equipment boosted its quarterly earnings.

Among oil majors, UK's Royal Dutch Shell gained 1.6% after it raised its dividend by 4% following a strong quarter, while France's Total was up 1.4% after it reported first-quarter earnings close to pre-pandemic levels.

French planemaker Airbus added 3.0% after it posted higher quarterly core earnings.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))