🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Nokia, BNP earnings prop European stocks as growth worries linger

Published 31/07/2020, 08:28
© Reuters.
FCHI
-
BNPP
-
NOKIA
-
AAPL
-
AMZN
-
META
-
STOXX
-
SX8P
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 31 (Reuters) - European shares were largely flat on
Friday after encouraging earnings updates from Nokia, BNP
Paribas and others countered concerns about a global economic
recovery as coronavirus cases surged globally.
The pan-European STOXX 600 .STOXX was on course to end the
month flat-to-lower after weak economic data and concerns about
the 2020 U.S. presidential election sent the index to a
one-month low on Thursday.
Concerns about a resurgence in COVID-19 cases in Europe
weighed, with Paris-listed shares .FCHI edging lower even as
data showed the French economy contracted by a
smaller-than-expected rate in the second quarter.
Euro zone GDP numbers are due at 0900 GMT.
In earnings-driven moves, Finnish telecom network equipment
maker Nokia NOKIA.HE surged 10.6% to the top of STOXX 600 as
it reported an unexpected rise in its underlying profit.
Technology stocks .SX8P were the top gainers, up 1.6%
after Wall Street's tech giants, Apple AAPL.O , Amazon AMZN.O
and Facebook FB.O , reported forecast-beating results
overnight.
BNP Paribas BNPP.PA rose 3.9% as it earned a
higher-than-expected quarterly profit, boosted by a surge in
fixed income trading and strong demand for corporate finance.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.