- European shares gained on Thursday as upbeat results from German companies offset a dour profit forecast from Nokia and a mixed bag of business sentiment indicators ahead of the European Central Bank’s October policy meeting.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 21, 2019. REUTERS/Staff The pan-European stock index rose 0.3% by 0815 GMT, on track to reach its highest level this month with German stocksdriven by robust earnings from Daimler and a confirmation from chemicals giant BASF of its annual outlook.
“Companies like BASF and Daimler which had reduced earnings earlier this year today said they aren’t cutting their outlook any further,” said Chris Bailey, European strategist at brokerage Raymond James.Daimler jumped 4.7% after higher sales of its Mercedes-Benz cars boosted operating profit for the third-quarter, helping the sub-index of auto stocks .SXAP reach its highest since early May.
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Did t Trump just toot Nokia’s horn in the WH not too long ago? Lol