Economic news

European shares break 3-day decline on strong corporate updates

European stocks edged higher on Thursday advancing for the first time in four sessions due to a inflow of mostly positive earning results from the financial and technology sectors.

Photo: Reuters

The Stoxx Europe 600 index gained 0.5% to 397.53, recovering from an almost four-week trough touched on Wednesday.

Germany’s DAX 30 index surged 0.4% to 13,239.70, while France’s CAC 40 index jumped 0.6% to 5,514.91. The U.K.’s FTSE 100 index inched up 0.1% to 7,543.15.

The eurozone manufacturing expended firmly in January, fresh data showed. IHS Markit’s manufacturing Purchasing Managers’ Index for the euro zone was 59.6, slightly below December’s 60.6.

Daimler AG dipped 1.2% despite the car maker reported a 49% rise in fourth-quarter profit. Royal Dutch Shell dropped 1% and Novo Nordisk tumbled 5.2%.

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