European stocks climb on strong earnings reports
2022.04.28 11:11
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 27, 2022. REUTERS/Staff
(Reuters) – European shares extended gains for a second straight session on Thursday, as a slew of forecast-beating earnings reports helped set aside fears around slowing global economic growth.
The pan-European STOXX 600 index rose 0.7% by 0707 GMT, with all regional bourses in the black. Travel and leisure stocks rose 2.1% to lead sectoral gains, while miners fell behind.
British bank Standard Chartered (OTC:SCBFF) jumped 10.1% and Spain’s Banco Sabadell climbed 5.3% after reporting upbeat quarterly earnings.
German online takeaway food company Delivery Hero surged 8.1% after saying it was on track for a positive adjusted core profit for its food delivery business this year, while meal-kit maker HelloFresh added 10.9% on strong results.
Among decliners, Swedish banking group Swedbank fell 5% after narrowly beating profit estimates.
Better-than-expected results from Meta Platforms Inc looked set to boost Wall Street at the open, with its Frankfurt-listed shares surging 18.3%.
