European stocks rise on upbeat earnings; DAX up 0.90%
Investing.com
Published Oct 28, 2010 05:47AM ET
During European morning trade, the EURO STOXX 50 was up 0.89%; France’s CAC 40 rose 0.92%; while Germany's DAX gained 0.90%.
In earnings news, shares in Europe’s largest oil company Royal Dutch Shell rose 1.26% after the company said third-quarter profit rose 7% to USD 3.46 billion, up from USD 3.25 billion from a year-earlier.
Elsewhere within the energy sector, shares in oil giant British Petroleum jumped 1.87% while French oil and gas firm Total SA saw shares climb 1.33%.
Meanwhile, shares in Europe’s third-largest telecommunications operator France Telecom soared 2.88% after it reported better-than-expected third-quarter earnings, as revenue in the quarter increased by 4.2%. The company also raised its full-year revenue target.
Elsewhere within the sector, shares in Europe’s largest telecommunications operator Deutsche Telekom jumped 2.52% while Vodafone Group saw shares climb 2.01%.
Also Thursday, shares in global pharmaceutical company Sanofi-Aventis surged 1.59% after the company reported better-than-expected third-quarter earnings, as net income rose by 13% in the quarter and sales were 5.7% higher from a year-earlier.
In London, the commodity-heavy FTSE 100 jumped 1.08% with shares in the commodity sector leading gains as a weaker U.S. dollar lifted crude oil and metal prices. Shares in mining giants BHP Billiton soared 1.95%, rivals Rio Tinto saw shares jump 1.81%, while Anglo American shares gained 1.14%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Coca-Cola Enterprises and oil and gas giant Exxon-Mobil.
The Dow Jones Industrial Average futures indicated a gain of 0.22%, S&P 500 futures pointed to an increase of 0.26% and Nasdaq 100 futures indicated a rise of 0.23%.
Later in the day, U.S. was to release key weekly data on initial jobless claims.
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Written By: Investing.com
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