Europe open: Shares edge ahead on mixed corporate earnings, updates
European shares edged ahead at the open on Thursday as investors digested mixed earnings and trading updates.
The pan-European Stoxx 600 was up 0.12% in early deals with Britain’s commodity-heavy FTSE 100 down as Anglo American reported a 10% year-on-year fall in first quarter production and lowered its full-year forecast.
Shares in the mining giant fell 6.6% on the news.
In other equity news, Nestle shares gained as the food group confirmed annual targets after price rises helped quarterly organic sales rise more than expected.
Engineering and technology firm ABB climbed 3.8% after posting a sharp rise in orders during the first quarter.
Shares in Rexel, a French distributor of electrical supplies, soared after the company said first-quarter sales rose 31.4%.