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European stocks were mixed on Friday as weak earnings from the likes of Sanofi, Remy Cointreau and NatWest offset robust U.S. economic data released overnight. <\/p>\n
Energy stocks outperformed as oil prices surged on concerns over a widening of the Israel-Hamas conflict.<\/p>\n
The pan European STOXX 600 was up 0.2 percent at 433.83 after declining half a percent on Thursday. <\/p>\n
The German DAX rose half a percent and the U.K.’ s FTSE 100 edged up 0.2 percent while France’s CAC 40 was down 0.4 percent. <\/p>\n
The euro traded lower against a basket of major rivals, a day after the European Central Bank kept rates steady as expected.<\/p>\n
BP Plc jumped 2 percent and Shell added 2.1 percent as crude prices rose by over $2 a barrel after a U.S. military attack on facilities in Syria linked to Iran.<\/p>\n
Italian energy giant Eni rose about 1 percent despite reporting a 67 percent fall in Q3 net profit. <\/p>\n
Swedish home appliance manufacturer Electrolux slumped nearly 10 percent after third-quarter core profits came in below expectations.<\/p>\n
SKF, the world’s biggest maker of industrial bearings, gained 1.5 percent after saying it is exploring strategic options to fully or partially exit non-core businesses.<\/p>\n
Signify NV soared 10 percent after reporting robust quarterly core earnings.<\/p>\n
British Airways-owner IAG declined 1.5 percent despite beating market expectations for profit in the third quarter.<\/p>\n
NatWest Group shares plunged more than 10 percent after the Financial Conduct Authority said it had found “potential regulatory breaches” in its report into a banking account scandal that ousted NatWest CEO Alison Rose.<\/p>\n
French spirits maker Remy Cointreau plunged 11 percent after slashing its sales outlook and lowering profit guidance.<\/p>\n
Drug maker Sanofi plummeted 15 percent after it forecast lower profit next year and announced plans to split its consumer-healthcare and pharmaceutical business<\/span>.<\/p>\n MTU Aero Engines rose 1.3 percent after the German aircraft-engine manufacturer reported higher adjusted sales and earnings for the third quarter and confirmed guidance for the year.<\/p>\n Covestro rallied 2 percent. The plastics and chemicals maker said that it is in talks with suitor Abu Dhabi National Oil Company (ADNOC) over a takeover approach.<\/p>\n On a light day on the economic front, France’s consumer sentiment improved marginally in October, survey results from the statistical office INSEE showed earlier today.<\/p>\n The consumer sentiment index moved up to 84 in October from 83 in September. The reading was forecast to remain unchanged to 83.<\/p>\n The survey was conducted between September 26 and October 18. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n