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
UK News
European stocks hit record high on earnings from Airbus, commodity majors
Published at 29/07/2021 at 08:27

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

July 29 (Reuters) - European stocks hit record highs on Thursday as strong earnings from commodity majors, Airbus and others set a bright tone in markets, while concerns about China's regulatory moves faded.

The pan-European STOXX 600 index rose 0.3% to an all-time high of 463.0 points in early trading.

The world's largest planemaker, Airbus , jumped 3.6%, providing the biggest boost to the STOXX 600, after it sharply raised its forecasts for full-year deliveries and earnings.

France's TotalEnergies and UK-listed Royal Dutch Shell rose about 2% each after announcing share buybacks as a sharp rise in oil and gas prices boosted their earnings.

Finnish telecom equipment maker Nokia climbed 6.6% after it raised its full-year outlook as it benefits from a sharp turnaround in its business.

Food giant Nestle and brewer Anheuser-Busch InBev

fell after their results.

Swiss bank Credit Suisse fell 4.8% after reporting a near 80% fall in its second-quarter profit, hit by the fallout from the collapse of Archegos.

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

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