Deutsche Bank, Lloyds earnings prop up European shares
European stocks inched higher on Wednesday on expectations of a bumper earnings season following strong results from Deutsche Bank, Lloyds Banking Group and other lenders. The pan-European STOXX 600 index rose 0.1% in early trading, with the region's banking sector up 1.1%.
European stocks inched higher on Wednesday on expectations of a bumper earnings season following strong results from Deutsche Bank, Lloyds Banking Group and other lenders.
The pan-European STOXX 600 index rose 0.1% in early trading, with the region's banking sector up 1.1%. Deutsche Bank jumped 5.2% to the top of Germany's blue-chip DAX as strength at its investment bank helped offset headwinds from restructuring and the pandemic.
Topping London's FTSE 100, Lloyds Banking Group rose 4.2% after reporting a better-than-expected profit. Sweden's SEB and Spain's Santander also inched higher after their quarterly results.
Weighing on the STOXX 600, Lysol maker Reckitt Benckiser Group fell 2% even as the company backed its full-year outlook. Earnings at European companies in the first quarter of 2021 are expected to surge 71.3% from a year earlier, according to Refinitiv IBES data, up from last week's forecast of a 61.2% jump.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- pan-European
- Sweden
- Deutsche Bank
- Lysol
- Germany
- Spain
- European
- Santander
- London
- FTSE
ALSO READ
ICC has no authority to probe Philippines, Marcos tells Germany's Scholz
European Union lawmakers approve law to limit use of AI
Germany is only halfway through property crisis, says Commerzbank real estate boss
European shares hover near record-high levels; US economic data on tap
European shares hit another record high; US economic data on tap