European stocks rise as Electrolux, Nordea profit beat estimates
By Bloomberg
European stocks rose, rebounding from losses of a day earlier, as profit from Electrolux AB and Nordea Bank AB exceeded estimates.
The Stoxx Europe 600 Index gained 0.6 percent to 370.94 at 8:07 a.m. in London. Nordea climbed 5.4 percent after raising its 2014 dividend by 44 percent and saying quarterly net income rose. Electrolux jumped 7.9 percent after Europe’s biggest appliances maker said fourth-quarter operating profit increased 20 percent.
Europe’s benchmark measure on Tuesday slid 1 percent, snapping the longest streak of gains since April, as Siemens AG and Royal Philips NV posted disappointing earnings. The Stoxx 600 rose for eight days through Monday as the European Central Bank on Jan. 22 announced a 1.1 trillion euro ($1.25 trillion) bond-buying plan.
Other stocks moving after results include Anglo American Plc, which climbed 3 percent after saying coal and iron-ore output rose in the fourth quarter. Roche Holding AG dropped 1.4 percent as the world’s biggest seller of cancer drugs reported 2014 earnings that missed analysts’ estimates.
In the U.S., the Federal Open Market Committee releases its policy statement after European markets close. Policy makers will retain language pledging to be “patient” on the timing of an interest-rate increase, economists said.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!