European equities start in green; defy earnings drop

Thursday, 08. November 2018 09:22

Investors continued the euphoria on Thursday after the midterm elections in the United States and pushed stock indexes higher in the main European exchanges. Shares rallied overall despite a fall in the foreign trade surplus of Germany, which came on the back of a jump in imports to the Eurozone's largest economy. Markets apparently ignored downbeat corporate results from a number of large lenders and industry heavyweights.

The FTSE 100 advanced 0.43% in early trade. Coca-Cola HBC was the best performer, jumping 2.52%. The DAX was up 0.44%, led by HeidelbergCement's jump of 5.31%. The CAC 40 added 0.24% in Paris. Sodexo spiked 6.83% to the top of the chart, followed by a rally of 3.35% in Societe Generale. The French bank boosted profits 16.1% in the third quarter from one year before.

The euro was flat at $1.14385 and £0.87088 as of 9:20 am CET. Major currencies were mostly little changed. The pound was marginally higher at $1.3138 and the dollar rose 0.14% to ¥113.6765. Gold lost 0.26% to $1.223.19 per ounce, compared to a drop in spot silver of 0.42% to $14.51.

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