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Upbeat earnings lift European shares at open

Published 23/07/2019, 08:32
© Reuters.  Upbeat earnings lift European shares at open
UK100
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ES35
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FRVIA
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STOXX
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AMS
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HLE
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SXAP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 23 (Reuters) - European shares rose on Tuesday,
tracking rises on Wall Street and in Asia as
better-than-expected results for Banco Santander helped put
Spanish markets .IBEX on course to end a four-session losing
streak.
The latest rounds of corporate results, from oil bellwether
Halliburton, Swiss bank UBS and Apple supplier AMS AMS.S , all
sounded positive notes, and the pan-European stocks benchmark
.STOXX rose 0.6% by 0711 GMT, adding to Monday's marginal
gains.
Auto stocks .SXAP led gains among major sectors with parts
maker Hella HLE.DE up 2.8% after a brokerage upgrade, while
French peer Faurecia EPED.PA jumping 5.9% after it maintained
first-half profitability.
London's internationally-focused FTSE index .FTSE took
heart from another nudge lower in the pound ahead of the results
of a Conservative leadership race which should see Boris Johnson
annointed as the next prime minister.
Hopes that the European Central Bank will cut interest rates
on Thursday by 10 basis points to boost economic growth also fed
into the positive sentiment. Some expectations still remain that
the bank may set the stage for a September cut.

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