European stocks close higher on earnings; EU hits Google with record fine

European shares closed higher Wednesday, with investors maintaining their focus on corporate earnings.

The pan-European Stoxx 600 closed provisionally 0.54 at 387.06 higher with almost every sector in positive territory. Technology led the gains, up by 2.53 percent, on earnings. Ericsson rose 8.52 percent after reporting second-quarter results at the higher-end of its guidance.

On Wednesday, investors monitored Brussels and Alphabet shares. U.S. tech giant Google was hit with its biggest ever antitrust fine — a $ 5 billion levy — after the EU ruled that its Android mobile operating system had abused the mobile software’s dominance in the industry. Google said it would appeal the decision. Alphabet’s stock slipped slightly following the EU announcement.

On Wall Street, stocks traded mixed following weaker-than-expected housing data; traders also continued to monitor incoming corporate results.

Source : CNBC

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European markets open higher amid earnings; Google in focus

European shares open higher on Wednesday carrying on the positive sentiment that kickstarted on Wall Street.

The Stoxx Europe 600 rose 0.3% to 386.08 at the open with almost every sector in positive territory.

U.K.’s FTSE 100 and France’s CAC 40 gained 0.4% to 7,656.30 and to 5,441.69 respectively while Germany’s DAX added 0.5% to 12,729.02.

Investors will be particularly focused on Brussels and on Alphabet shares Wednesday. Media reports suggest the U.S. tech giant Google might be hit with its biggest ever regulatory fine as the European Commission presents the findings of an eight-year probe into the company’s operating system for mobile phones.

In terms of earnings, Akzonobel, Danske Bank, Ericsson, Novartis and Easyjet are among the companies reporting.

Source: CNBC

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European stocks close higher amid earnings; Fed’s Powell addresses Congress

The pan-European Stoxx 600 closed provisionally 0.24 percent at 384.98 higher with major bourses and sectors in mostly positive territory.

Basic resources stocks were the best performers, up by 1.27 percent on earnings news, while at the other end telecoms fell by 1.19 percent amid consolidation news. Shares of Norway’s Telenor tracked almost 4 percent lower after an acquisition deal between Telia and TDC’s Norwegian unit raised concerns over the company’s market share.

Looking across the benchmark, shares of Schibsted rose almost 12.6 percent, leading the gains in Europe, after reporting an all-time high in earnings and 7 percent above Reuters consensus. Thyssenkrupp also jumped more than 9 percent following news the chairman resigned after the company’s CEO left last week due to shareholder pressure. At the other end, Husqvarna dropped 17.37 percent on disappointing results. The company lowered its operating margin targets for this year.

Source : CNBC

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