Europe open: Stocks nudge higher as investors eye slew of data releases

European stocks nudged higher amid a slew of mostly well-received earnings news, as investors looked to the release of more key data.

At 0845 GMT, the benchmark Stoxx Europe 600, Germany’s DAX and France’s CAC 40 were all up 0.4%.

“With a mixed bag of economic numbers to digest and continued uncertainty over the timing of a US rate hike, investors remain cautious. However, being month end, we may see some window dressing and a push higher while investors pour over more corporate earnings,” said Mike McCudden, head of derivatives at Interactive Investor.

Oil and gas company BG Group gained after its third-quarter core earnings came in better than expected, as it raised its full-year production guidance following a sharp increase in output in the period.

Shares in British Airways and Iberia parent International Consolidated Airlines Group fell sharply despite the company posting a big increase in third-quarter profit.

Airbus rallied after reporting a 12% rise in third-quarter core earnings from the same period a year ago and announcing the buyback of €1.1bn of shares.

BNP Paribas was also in the black after it posted a 14% rise in net income, beating analysts’ expectations, while Belgium-based brewer Anheuser-Busch InBev advanced after it said core earnings rose 9.6% in the third quarter.

French car maker Renault pushed up after saying third-quarter revenue increased by 9.4%.

On the downside, Royal Bank of Scotland slipped after it said higher restructuring costs caused third-quarter pre-tax profit to slump to £2m from £1.1bn in the same period last year.

The macroeconomic calendar is pretty full, with Eurozone flash inflation and the unemployment rate for the block due at 1000 GMT. In the US, personal income and spending and the employment cost index are at 1230 GMT, while Chicago PMI is at 1345 GMT and University of Michigan is at 1400 GMT.