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Industrials drive STOXX 600 higher as earnings season gathers steam
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Industrials drive STOXX 600 higher as earnings season gathers steam
Apr 18, 2024 12:53 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

April 18 (Reuters) - European shares edged higher on

Thursday, with the industrials lifting the benchmark index

following ABB's upbeat results, while Germany-listed Sartorius

was on track for its biggest drop in six months after bleak

quarterly orders.

The continent-wide STOXX 600 was up 0.2%, as of

0717 GMT, as the earnings season picks up steam.

The industrials sector was the biggest boost with a

0.7% jump, driven by a nearly 6% rise in ABB as the

Swiss engineering company's profit trounced market expectations

in the first quarter.

Shares of Sartorius slid 7.4% to the bottom of the

benchmark index after the Franco-German lab supplies maker's

first-quarter figures missed analysts' expectations for order

intake and revenue.

The broader healthcare sector was the biggest drag

on the STOXX with a 0.3% drop.

Among others, Nokia slipped 2.2% after the

Finnish telecom gear maker's quarterly profit figures missed

estimates.

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