European markets rise on strong earnings; Hermes up 2.1%

The STOXX 50 rose by 0.7%, while the STOXX 600 increased by 0.5% on Thursday as traders absorbed positive corporate earnings and new economic data.

European markets rise on strong earnings; Hermes up 2.1%

The Flash HCOB PMIs for the Eurozone indicated that private sector activity continued to contract, although the decline in manufacturing showed signs of easing. Germany saw some encouraging trends, with a boost in services growth and a slowdown in manufacturing declines; however, France's data fell short of expectations. On the corporate side, Hermes shares surged by approximately 2.1% following a significant rise in third-quarter sales.

LVMH, Renault, Barclays, and Anglo-American post substantial gains

LVMH (1.8%) and L'Oreal (1%) also saw gains. Renault experienced a notable 5% increase after reporting higher revenue in Q3 and reaffirming its outlook. Additionally, Barclays' shares climbed 4% after exceeding profit estimates, while Anglo American's stock rose over 4% after announcing stable production in Q3.