European shares rebound as Lloyds and Seadrill rally
[LONDON] European shares rebounded on Thursday from losses earlier in the week, as some solid corporate results from the likes of Seadrill and British bank Lloyds lifted stock markets.
The pan-European FTSEurofirst 300 index, which had fallen around 4 per cent in the previous two sessions, rose 1.3 per cent.
Britain's FTSE 100 advanced 1.8 per cent, Germany's DAX rose 0.8 per cent while France's CAC climbed 1.4 per cent.
Lloyds surged 9.1 per cent after announcing a special dividend payment and higher profits, while shares in Seadrill also advanced 6.7 per cent as investors welcomed a refinancing plan at the rig company.
However, Zodiac Aerospace slumped 24 per cent after announcing a profit warning.
According to Thomson Reuters StarMine data, 53 per cent of companies on the European STOXX 600 index have met or beaten market expectations with their fourth quarter results, while 47 per cent have missed market forecasts.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Wall Street bonus rules return to regulatory agenda in third try
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Israel hits back, markets react; STI down 0.4%