European Stocks Close Higher As Investors React Positively To Earnings Announcements

(RTTNews) - European stocks closed higher on Friday with investors reacting to some fairly strong corporate earnings announcements, and assessing the likely move of the Federal Reserve after data showed much weaker than expected job growth in the U.S. in the month of October.

Upbeat earnings news from Amazon and Intel contributed significantly to the positive mood in the markets. China-related luxury stocks moved higher as a private survey showed activity in China's manufacturing sector rebounded in October after a dip into contraction the previous month.

The pan European Stoxx 600 climbed 1.09%. The U.K.'s FTSE 100 gained 0.83%, Germany's DAX closed up 0.93% and France's CAC 40 advanced 0.8%, while Switzerland's SMI ended up 1.48%.

Among other markets in Europe, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Portugal, Russia, Spain, Sweden and Turkiye closed higher.

Poland ended weak, while Austria closed flat.

In the UK market, Reckitt Benckiser rallied 6.6% after it was cleared of liability in a trial regarding its baby formula.

Schrodders gained 4.3% and ICG climbed 3.3%. Associated British Foods, Melrose Industries, Rolls-Royce Holdings, Beazley, RightMove, Natwest Group, EasyJet, Phoenix Group Holdings, GSK, Lloyds Banking Group, Antofagasta, Croda International and WPP gained 1.7 to 2.8%.

Vistry Group, Entain, Smith (DS), Fresnillo, Sainsbury (J) and Persimmon ended weak.

In the German market, Sartorius climbed about 3.5%. Puma, Siemens Energy, Fresenius Medical Care, Merck, BASF, Siemens, Deutsche Post, Qiagen, Fresenius, Adidas, Bayer, Zaland, MTU Aero Engines, HeidelbergCement, Infineon, BMW and Deutsche Bank gained 1.2 to 3%.

In the French market, Societe Generale climbed more than 3.5% and Capgemini gained 3%. Dassault Systemes ended nearly 2.5% up. Legrand, Sanofi, Carrefour, Teleperformance, Eurofins Scientific, Airbus Group, Saint-Gobain, Schneider Electric, TotalEnergies, Thales, Pernod Ricard and L'Oreal gained 1 to 2%.

Renault ended down 1.5%. AXA and STMicroElectronics closed slightly weak.

In economic news, the UK factory activity contracted for the first time since April as manufacturers adopted a wait-and-see approach on investment and spending ahead of the budget announcement, final data from S&P Global showed. The manufacturing Purchasing Managers' Index posted 49.9 in October, down from 51.5 in September.

House price inflation in the UK eased for the first time in six months in October, slowing to 2.4% from 3.2% in September. Economists had expected inflation to fall to 2.8%. On a monthly basis, house prices rose only 0.1%, after a 0.6% gain in the previous month.

Switzerland's consumer price inflation eased unexpectedly in October to the lowest level in more than three years. The consumer price index rose 0.6% on a yearly basis in October, slower than the 0.8% rise in September. Meanwhile, economists had expected the inflation to remain stable at 0.8%.

LIKE.TG：汇集全球营销软件&服务，助力出海企业营销增长。提供最新的“私域营销获客”“跨境电商”“全球客服”“金融支持”“web3”等一手资讯新闻。

点击【联系客服】 🎁 免费领 1G 住宅代理IP/proxy， 即刻体验 WhatsApp、LINE、Telegram、Twitter、ZALO、Instagram、signal等获客系统，社媒账号购买 & 粉丝引流自助服务或关注【LIKE.TG出海指南频道】、【LIKE.TG生态链-全球资源互联社区】连接全球出海营销资源。