In Europe, the stock market saw a boost from positive earnings reports, despite recent concerns about global inflation and long-term interest rates. While the mood in Asian markets was already positive in the morning, European markets opened cautiously. However, European stock markets experienced a slight rise due to encouraging earnings news.
One example of this was food company Danone reporting stronger-than-expected turnover, driven by sales of bottled water, resulting in a 1.4 percent increase in their share price. Additionally, ABB raised its profit guidance, leading to a 5.6 percent increase in their share price. European chip companies also reacted positively to improved results from Taiwan Semiconductor Manufacturing.
After about twenty minutes of trading, the broad Stoxx 600 index was up 0.25 percent, with companies offering community services experiencing the best rise in the sector. Overall, European stock markets were showing signs of optimism in response to positive earnings news.
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