FX.co ★ European Stocks Rise as Earnings Stay in Focus

On Friday, both the STOXX 50 and STOXX 600 indices experienced a 0.2% increase, with market participants turning their attention to corporate earnings and pertinent updates. Notably, Sanofi's stock rose by more than 3% after the company surpassed third-quarter profit forecasts and reiterated its full-year projections. Meanwhile, NatWest saw a 4% uplift in its share price following an upward revision in its profit and revenue forecasts. Eni also gained over 2%, propelled by quarterly results that exceeded expectations. Saab’s share price surged nearly 5% after reporting strong earnings, and Valeo appreciated by 4.9% as investors reacted positively to its recent financial report. The technology sector showed improvements as well, with ASML Holding advancing by 1.4%, in line with a rally in U.S. tech stocks after Intel's results beat projections. Additionally, reports indicating that Chinese authorities intend to enhance the nation's self-reliance and capabilities in science and technology provided further backing for the sector. From an economic data perspective, preliminary PMI figures for Germany revealed that private-sector activity expanded at its swiftest rate since 2023, contrary to expectations. Over the week, the STOXX 50 rose by 1.2%, and the STOXX 600 increased by 1.4%.