Modupe Gbadeyanka
By Investors Hub
European stocks have risen to their highest level in nearly five months on Friday, with a weaker euro and a slew of well-received corporate earnings supporting underlying sentiment.
The euro extended weakness into a second day after the European Central Bank pledged to continue with bond purchases beyond September 2018 despite strong growth.
Meanwhile, investors shrugged off survey data from statistical office Insee showing that French consumer confidence weakened unexpectedly in October.
While the U.K.’s FTSE 100 Index has inched up by 0.1 percent, the German DAX Index and the French CAC 40 Index are up by 0.7 percent and 0.8 percent, respectively.
Electrolux has moved sharply higher after reporting a better-than-expected 12 percent increase in its third quarter net profit.
Royal Bank of Scotland Group shares have also advanced after the bank reported three consecutive quarters of profits but still expects a loss for the full-year.
Safran shares have rallied after the French aerospace group reported third quarter revenue that beat expectations, driven by higher sales from the aerospace-propulsion business.
Total SA has also moved higher after the energy giant reported a 39 percent increase in third quarter net income, taking full advantage of the favorable market environment.
German chemicals group Linde has jumped after the company confirmed its 2017 outlook after reporting a 3 percent rise third quarter core profit.
Meanwhile, UBS Group shares have fallen after the Swiss banking giant issued a cautious outlook after reporting a 14 percent rise in third quarter net profit.
Building materials and solutions company LafargeHolcim has also moved to the downside after saying that it is in talks with South African cement manufacturer PPC regarding a possible transaction in Africa.
British Airways parent International Consolidated Airlines Group has slumped after it reported a slowdown in passenger revenue growth.
