HDB expands national footprint with 'Acacia' branch in New Cairo    Lavrov warns against anti-Russia alliances in Asia during North Korea visit    Germany faces recruitment hurdles in push to rearm, eyes conscription    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Egypt, China central banks sign pacts to boost yuan use, payment systems    S. Korea's c. bank holds base rate at 2.50%    Egypt, China sign 3 MoUs to expand digital payments, local currency use    Egypt's annual core CPI inflation eases to 11.4% in June: CBE    Egypt's EDA, Haleon discuss local market support    Environment ministry signs agreement to strengthen marine protection, promote ecotourism    Egypt, WHO discuss expanding health cooperation, development initiatives    Chinese Premier Li Qiang arrives in Egypt for high-level talks    Gaza under siege, fire: Resistance intensifies amid deepening humanitarian collapse    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    Egypt, Pakistan boost healthcare ties – Cabinet    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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European Stocks Gain As Deutsche Bank, Nokia Rise
Amwal Al Ghad Published in Amwal Al Ghad on 29 - 04 - 2014

European equities advanced Tuesday, on track for a second consecutive session of gains, as investors assessed a fresh round of corporate financial results.
The Stoxx Europe 600 XX:SXXP +0.43% rose 0.6% to 335.98, adding to Monday's 0.2% rise. That prior-day gain was fronted by a 14% rally in AstraZeneca PLC UK:AZN -0.75% , after Pfizer Inc. PFE +4.20% renewed its interest in a takeover of the drug maker. AstraZeneca shares on Tuesday eased by 1.2%.
But Deutsche Bank AG DE:DBK +2.91% shares gained 1.3%, helping lift the Stoxx 600, after the banking-sector heavyweight's first-quarter profit came in above analyst expectations. The move also supported a 1.2% climb in Germany's DAX indexDX:DAX +0.50% . The best advancer on the German stock gauge was Infineon Technologjes AG DE:IFX +5.09% , which rose 5.9% following the chipmaker's better-than-expected second-quarter results.
Infineon also forecast revenue growth and margin "to be at least at the upper end" of previously set projections.
From the economic front, a GfK German consumer-confidence survey showed that though confidence remains high, higher tensions between Moscow and Kiev could weaken economic prospects for Europe's largest economy.
Nokia Oyj FI:NOK1V +7.30% shares pushed 6.2% higher as the mobile company said it will distribute more than 3 billion euros to investors, using a significant chunk of cash from the recent sale of its handset business to Microsoft Corp. MSFT +0.42% . Also, the company's first-quarter loss narrowed from the year-ago period.
On the downside, stock in ABB Ltd. CH:ABBN -6.86% slumped 6% after first-quarter earnings and revenue at the power-and-technology company fell short of projections by analysts.
In London, government-services provider Serco Group PLC UK:SRP -19.66% warned of a possible downward revision to its expectations, which was followed by an 18% slide in shares.
Also in the U.K., the FTSE 100 index UK:UKX +0.45% rose 0.4% to 6,728.60. Data released Tuesday by the Office for National Statistics showed the U.K.'s gross domestic product grew by 0.8% in the first quarter, missing analysts' and the Bank of England estimates.
In France, CAC 40 FR:PX1 -0.04% slipped less than 1 point to 4,460.41.
Source: Market Watch

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