European stocks hit record high on earnings from Airbus, commodity majors

The world's largest planemaker, Airbus, jumped 3.6%, providing the biggest boost to the STOXX 600, after it sharply raised its forecasts for full-year deliveries and earnings. France's TotalEnergies and UK-listed Royal Dutch Shell rose about 2% each after announcing share buybacks as a sharp rise in oil and gas prices boosted their earnings.

European stocks hit record highs on Thursday as strong earnings from commodity majors, Airbus and others set a bright tone in markets, while concerns about China's regulatory moves faded.

The pan-European STOXX 600 index rose 0.3% to an all-time high of 463.0 points in early trading. The world's largest planemaker, Airbus, jumped 3.6%, providing the biggest boost to the STOXX 600, after it sharply raised its forecasts for full-year deliveries and earnings.

France's TotalEnergies and UK-listed Royal Dutch Shell rose about 2% each after announcing share buybacks as a sharp rise in oil and gas prices boosted their earnings. Finnish telecom equipment maker Nokia climbed 6.6% after it raised its full-year outlook as it benefits from a sharp turnaround in its business.

Food giant Nestle and brewer Anheuser-Busch InBev fell after their results. Swiss bank Credit Suisse fell 4.8% after reporting a near 80% fall in its second-quarter profit, hit by the fallout from the collapse of Archegos.