Stocks

European shares poised to end 8-day losing streak on earnings boost

Reuters London | Updated on January 15, 2018 Published on November 03, 2016

european

European shares looked set to snap their longest streak of losses in more than two years as good corporate results, particularly from euro zone banks, helped support indexes.

The pan-European STOXX 600 rose 0.2 per cent after hitting its lowest level in nearly four months earlier in the session. The index fell in the past sessions on growing nervousness before the US presidential election.

Societe Generale shares rose more than 5 per cent, while ING Groep shares were up 3.8 per cent after results.

British satellite company Inmarsat rose more than 9 per cent, the top STOXX 600 gainer, after reporting a 5.8 per cent rise in third-quarter revenue, while Tate & Lyle gained 5.8 per cent after raising its full-year profit forecast.

Credit Suisse shares were on the backfoot, however, after its results showed the bank lagged peers on trading revenues over the third quarter and upped its litigation provisions.

Published on November 03, 2016
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