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European stocks gain on positive earnings

European stocks advanced on Thursday, supported by soild corporate results from insurance ginats Munich Re and Generali, while Societe Generale slid following its deputy CEO unexpected resignation.

Photo: Reuters

The pan-European STOXX 600 index rose 0.21%.

British FTSE 100 ticked up 0.14%, France's CAC 40 surged 0.28% and Germany's DAX was up 0.43%.

The Bank of France raised its growth outlook to 1.9% from 1.7% due to rising exports, as well as company investment and consumer spending.

Assicurazioni Generali SpA jumped 2.1% after the company posted a net profit of 2.11 billion euros.

Shares of Deutsche Lufthansa AG slipped 1.4% despite strong results last year. The second largest air carrier in Europe reported its 2017 net income increased 33.1% to 2.36 billion euros from 1.78 billion euros.

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