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Europe: Shares start November on a two-year high, DAX catches up

[LONDON] European stocks reached a two-year high, as corporate results for the third quarter and record highs by US and Asian shares continued to fuel confidence in the market.

At 0835 GMT, the pan-European STOXX 600 rose 0.6 per cent to 397.43 points, a level last seen in August 2015.

Germany's DAX was up about 0.9 per cent, catching up with its peers after being closed on Tuesday for a bank holiday. Spain's IBEX was up 0.4 per cent after strong gains the day before, as markets seemed to brush off worries over Catalonia's bid for independence.

Finnish tyre maker Nokian Tyres, which reported better-than- expected quarterly profits, was one of the best performers with a 5.7 per cent gain.

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On the other hand, Bitish clothing retailer Next sank 7.3 per cent after its results fell short of analysts'expectations .

Denmark's Novo Nordisk, the world's top maker of diabetes drugs, lost 2.8 per cent after publishing its third-quarter results and warning new legislation being prepared in some US states could hurt business in its key market.

British drugmaker Indivior posted the best performance in pan-european index, soaring 11.4 per cent after US authorities backed approval for an opioid addiction drug.

REUTERS

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