European Markets React to Earnings Amid Trade Policy Watch
European shares witnessed a rise on Friday, fueled by corporate earnings insights amidst concerns on U.S. tariff policies. The STOXX 600 index marked a modest gain, reflecting a positive trend alongside major indexes like the DAX, CAC 40, and FTSE 100. Notable movers included Saab, Vestas Wind Systems, and Electrolux.
On Friday, European stock markets marked gains, buoyed by corporate earnings as investors scrutinized potential impacts of U.S. tariffs on business operations. Such attention shifted focus to how these earnings reflect broader economic health in a tariff-laden environment.
The STOXX 600 rose by 0.3%, aiming for its second consecutive weekly increase. Major indexes like Germany's DAX, France's CAC 40, and the UK's FTSE 100 also experienced slight rises. Wall Street had touched record highs due to favorable economic data, showing strong consumer spending.
Swedish defense company Saab surged 12.7% following a robust second-quarter report exceeding forecasts, while Vestas Wind Systems saw an 8.8% uptick due to a J.P. Morgan upgrade. Conversely, Electrolux suffered a 14.6% drop after poor European results, as Reliance Industries acquired Kelvinator from them.
(With inputs from agencies.)
Google News