Positive earnings help European stocks bounce back

martes 4 de noviembre de 2014 05:32 GYT
 

* FTSEurofirst 300 up 0.3 pct, Euro STOXX 50 up 0.3 pct

* Half way into earnings season, 65 pct of cos meet/beat forecasts

* Oil majors hurt as Brent crude falls towards $83/barrel

By Blaise Robinson

PARIS, Nov 4 (Reuters) - European stocks rose on Tuesday, trimming the previous session's losses as better-than-expected earnings helped offset recent worries over the pace of economic growth in Europe.

Shares in German car parts and tyre maker Continental gained 1.5 percent after saying its profit margin could slightly beat targets this year as core European auto markets keep growing.

Banco Santander added 1.1 percent after the euro zone's biggest bank posted a 32 percent rise in nine-month net profit, beating forecasts, as charges set aside against problematic debts fell from a year ago.

Securitas surged 5.7 percent after the Swedish security firm posted a bigger-than-expected rise in third-quarter core profit.

Bucking the trend, shares in Hugo Boss featured among the top losers, down 5.7 percent after the German fashion house cut its 2014 sales and profit outlook.   Continuación...