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H&M, STMicro results boost European stocks at start of new quarter

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European stocks rose on Thursday as Swedish retailer H&M and French-Italian chipmaker STMicroelectronics jumped after reporting forecast-beating results, while hopes of more U.S. stimulus aided global sentiment.

after it flagged that adjusted profit may slip next year and it may have to write down the value of agriculture assets by close to 10 billion euros.

A final reading of German manufacturing activity in September showed recovery accelerated, with IHS Markit’s Purchasing Managers index rising to 56.4, even though it was below a flash estimate of 56.6. Spanish and French PMI readings were better than expected, while the broader euro zone recovery was in line with expectations.raced 20% higher after raising its first-half profit outlook as a coronavirus-driven cycling boom continues.rose 1.6% after sources told Reuters that bad loan managers AMCO and Credito Fondiario are in a race to buy loans known as 'unlikely to pay' worth around 1 billion euros from the bank.

 

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