European Markets Close Marginally Higher; Renault, Barclays Shares Rise after Posting Quarterly Results
European stocks closed marginally higher after paring back earlier gains on Thursday as investors reviewed another batch of earnings reports.
The pan-European Stoxx 600 provisionally closed 0.06% higher, with the majority of major bourses trading in positive territory while sectors were mixed. Travel and leisure stocks added 3.1% while chemicals fell 0.65%.
Shares of Renault jumped more than 7% earlier in the day after the French carmaker reported an unexpected uptick in third-quarter revenue amid strong demand for its pricier models. The stock closed 4.7% higher.
Barclays shares also rose over 5%, before closing up 4.2%, after the British bank reported better-than-expected third-quarter results.
Meanwhile, Hermes added 2.3%, before paring gains slightly, after the French fashion house reported an increase in third quarter sales, as demand for its Birkin bags continue to outweigh a wider downturn in luxury sales. Shares were 1% higher when markets closed.
Source : CNBC
