European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, and the STOXX 600 gained 0.2% to close at a record 575.
Sanofi rose 3% on better-than-expected third-quarter earnings, and Saab jumped 6% after raising its full-year organic sales forecast. NatWest also jumped 5% on higher third-quarter earnings and an improved performance target. ENI also jumped nearly 2% after releasing its earnings results. Meanwhile, Safran fell 1.4% despite beating analysts' earnings consensus.
Meanwhile, automakers and discretionary consumer goods companies posted gains as lower-than-expected inflation in the United States pushed yields lower across Europe. On the macroeconomic front, Eurozone PMIs were better than expected, reflecting improving economic activity. This week, the STOXX 50 rose 1.2% and the STOXX 600 rose 1.6%. (alg)
Source: Trading Economics
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