European stocks up as corporate earnings boost sentiment

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

European stocks up as corporate earnings boost sentiment

The flash HCOB PMIs for the Eurozone indicated that while private sector activity remained in contraction, the decline in manufacturing showed signs of easing. Germany saw encouraging developments with accelerated services growth and a slowdown in the fall of manufacturing output. However, data from France fell significantly short of expectations. On the corporate side, Hermes' shares surged approximately 2.1% following a substantial rise in third-quarter sales. LVMH and L'Oréal also saw gains of 1.8% and 1%, respectively.

Renault, Barclays, and Anglo-American shares surge on strong results

Renault experienced a strong 5% increase after reporting higher Q3 revenue and reaffirming its outlook. Additionally, Barclays shares jumped 4% after exceeding profit expectations, while Anglo American's stock rose over 4% after reporting stable Q3 production.