Europe closes higher driven by positive earnings

Tuesday, 26. October 2021 17:31

Major stock markets in Europe closed with gains on Tuesday as investors reflected on the busy quarterly earnings season with most companies reporting a positive trajectory. Swiss bank UBS beat analyst expectations with a 24.2% growth in net profit to $2.3 billion, while Novartis recorded a 43% jump in net income to $2.75 billion.

The DAX closed with 1.01% in the green led by Siemens jumping by 4.09%. The FTSE 100 rose by 0.76% as Bt Group gained 5.95%, while CAC 40 increased by 0.80% with Safran growing by 4.36%.

The euro lost 0.14% against the US dollar to exchange hands for $1.15872 at 5:32 pm CET, at the same time the British pound advanced by 0.08% to sell for $1.37768.

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Baha Breaking the News (BBN) / LH