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European shares extend gains on upbeat Nestle, Volvo earnings

Published 22/04/2021, 08:17
Updated 22/04/2021, 08:18
© Reuters.

© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
April 22 (Reuters) - European stocks moved towards record
highs on Thursday after stumbling earlier in the week, as a set
of strong earnings reports brightened sentiment ahead of the
European Central Bank's policy decision.
The pan-European STOXX 600 index .STOXX rose 0.4% by 0707
GMT, extending gains for a second straight session after fears
of a new wave of COVID-19 cases pushed European markets to their
worst day in 2021 on Tuesday.
Nestle NESN.S rose 2.2% after reporting its strongest
quarterly sales growth in 10 years, helped by demand for coffee,
dairy and petcare products. Swedish truckmaker AB Volvo VOLVb.ST jumped 4.6% as it
beat market expectations for first-quarter core earnings on the
back of surging demand. Credit Suisse CSGN.S fell 5.7% after it posted a 757
million Swiss franc ($825.97 million) pre-tax loss in the first
quarter, as the Archegos hit wiped out gains from bumper
trading.

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