Europe: Stocks near record high on strong AB Inbev, bank earnings
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BENGALURU] European stocks inched higher on Thursday, hovering near record levels, as strong earnings reports from AB Inbev and several eurozone banks added to an upbeat mood sparked by solid economic data.
The pan-European Stoxx 600 index rose 0.2 per cent by 7.16am GMT, with food and beverage, utilities and telecoms leading the gains.
Anheuser-Busch InBev gained 3.4 per cent, boosting the Stoxx 600, after it reported first-quarter earnings ahead of expectations and said North America boss Michel Doukeris will replace Carlos Brito as chief executive officer.
Italy's No 2 bank UniCredit jumped 4.5 per cent and French lender Societe Generale surged 6.1 per cent after reporting higher-than-expected quarterly earnings.
The wider euro zone banking sector rose 1 per cent to hit a fresh 14-month high.
Europe's largest car maker Volkswagen slipped 0.5 per cent even as it raised its operating margin target for 2021.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
It was a busy day for UK markets, with the blue-chip FTSE 100 rising 0.3 per cent ahead of Bank of England's monetary policy decision and with local and regional elections underway.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
