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
Earnings support European stocks ahead of GDP data
Published at 30/04/2021 at 08:28

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

April 30 (Reuters) - European stocks inched higher on Friday, as strong corporate earnings lifted investor spirits ahead of the release of euro zone economic growth data for the first quarter.

The pan-European STOXX 600 index was up 0.2% by 0720 GMT. The benchmark hovered below its all-time high and was on course to end April 2.3% higher.

British drugmaker AstraZeneca gained 2.7% on reporting better-than-expected results and forecasting sales growth.

Swedish Match rose 1.9% after the tobacco group reported a much higher first-quarter operating profit than expected.

However, Barclays tumbled 6.2% despite reporting a quarterly profit that more than doubled, while France's BNP Paribas slipped 1.0% after better-than-expected profit.

All eyes are now on the euro zone's GDP data due at 0900 GMT. The economy is forecast to have shrunk 2% in the first quarter versus a 4.9% fall in the final quarter of last year.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu)

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