European Stocks Rally Amid Upbeat Corporate Reports
European stocks rose on Thursday, buoyed by positive corporate updates while investors monitored U.S. trade policy changes. The Stoxx 600 index increased by 0.3%, driven by better economic data and strong earnings. Societe Generale led bank gains, while Shell benefited from beating profit forecasts.
On Thursday, European shares showed an upward trend, spurred by a series of encouraging corporate updates. Investors remain cautious, eyeing last-minute trade developments after U.S. President Donald Trump's latest series of tariff announcements.
The pan-European Stoxx 600 index climbed 0.3% by 0715 GMT, poised to close the month 1.6% higher. This boost in investor confidence stemmed from reduced trade concerns, favorable U.S. and European economic data, and mostly positive earnings reports. Trump recently unveiled additional tariffs on various goods, including copper, and removed exemptions for low-value overseas shipments.
Among European banks, Societe Generale saw a significant rise, climbing 7% after raising its annual profit forecast. Standard Chartered also reported strong earnings, while Spain's BBVA faced a downturn with a dip in second-quarter net profit. Energy leader Shell's shares increased by 2.9% following a quarter of profits exceeding expectations, steady buybacks, and a marginal rise for BP. Meanwhile, Anheuser-Busch InBev faced setbacks with a 10.2% loss due to declining sales in China and Brazil.
(With inputs from agencies.)
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