Europe open: Stocks continue rally on corporate earnings
European shares opened higher on Thursday, driven by strong corporate earnings and optimism over economic recovery from the Covid pandemic.
The pan-European Stoxx 600 index was up 0.57% with all major bourses higher after US and Asian markets rose overnight.
Investors were also eyeing the European Central Bank’s policy decision later in the day, which was expected to pledge more stimulus.
In equity news, shares in Swedish private-equity firm EQT topped the Stoxx with a rise of almost 14% as it reported a rise in assets under management during the first half of the year.
Travel stocks were also on the rise on hopes of holiday markets opening up for the rest of the summer. British Airways owner IAG, budget carriers easyJet and Ryanair and cruise line operator Carnival all gained.
Swiss engineering company ABB rose after the firm it doubled its full-year sales outlook.
Consumer goods giant Unilever shares were 4.4% lower after it cut its full-year operating margin forecast due to surging commodity costs.