European stocks hit record high on earnings from Airbus, commodity majors

  • 7/29/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) July 29 (Reuters) - European stocks hit record highs on Thursday as strong earnings from commodity majors, Airbus and others set a bright tone in markets, while concerns about China’s regulatory moves faded. The pan-European STOXX 600 index rose 0.3% to an all-time high of 463.0 points in early trading. The world’s largest planemaker, Airbus, jumped 3.6%, providing the biggest boost to the STOXX 600, after it sharply raised its forecasts for full-year deliveries and earnings. France’s TotalEnergies and UK-listed Royal Dutch Shell rose about 2% each after announcing share buybacks as a sharp rise in oil and gas prices boosted their earnings. Finnish telecom equipment maker Nokia climbed 6.6% after it raised its full-year outlook as it benefits from a sharp turnaround in its business. Food giant Nestle and brewer Anheuser-Busch InBev fell after their results. Swiss bank Credit Suisse fell 4.8% after reporting a near 80% fall in its second-quarter profit, hit by the fallout from the collapse of Archegos. (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu) Our Standards: The Thomson Reuters Trust Principles.

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