BERLIN, Aug 2 — European stocks scaled fresh peaks today, driven by dealmaking activity and strong results from Europe’s biggest bank HSBC, with a rebound in Asian stocks also helping set a bright start to August.
Among other deals, British asset management services provider Sanne Group jumped 7.9 per cent after it said it could get a takeover bid from fund servicer Apex Group.In earnings, Asia-focussed lender HSBC inched up 0.5 per cent after it beat forecasts for first-half pretax profit and reinstated dividend payments.
“Having reached all-time highs post 1Q results, the breadth of positive EPS revisions in Europe remains very strong both in absolute terms and versus peers,” European equity strategists at Morgan Stanley said in a note. “Europe now sees the best earnings revisions of all global regions.”