European shares reached a one-month high as banks, Sodexo sije


PHOTOGRAPHY: German DAX index for a share is shown on the stock exchange in Frankfurt, Germany, on October 29, 2018. REUTERS / Staff

LONDON (Reuters) – European share holdings rose to 1-month surpluses on Thursday, after the US mid-term elections rose, with strong results from SocGen, Commerzbank and the French Sodexo, alleviated concern over the slowdown in corporate income.

The pan-European STOXX 600 increased by 0.6 percent to 0854 GMT, which extended the profit of the previous session and after reaching the highest value since October 10th.

Leading stock index of the euro area. STOXX50E increased by 0.4 percent with German DAX. GDAXI by 0.4 percent and French CAC 40 .FCHI is 0.4 percent higher.

Banking and insurance indices .SX7P .SXIP were among the most successful sectors, each of them larger by 1.1%, with travel and leisure time. SXTP is flying high in Sodexo's (EXHO.PA) revenue better than expected.

Shares in the world's second-largest catering company reached 6% at the highest level since March and are on the best day since July.

Italy's third largest lender Banco BPM (BAMI.MI), according to forecasts of net profit in the third quarter increased by 7.6 percent due to lower costs and sales of assets, which helped to compensate for flat-rate fees and decline in interest income.

Commerzbank (CBKG.DE) and SocGen (SOGN.PA) increased by 4.6 percent and by 4 percent after the modernization of solid revenues.

Although they were not all good news. Shares of ProSiebenSat.1 (PSMGn.DE) plunged 17 percent to the bottom of the STOXX 600, which reached the lowest level in more than six years after a reduction in dividends and a warning on its half-yearly forecast.

Reporting Josephine Mason; editing Danilo Masoni

Our standards:Trust Principles Thomson Reuters.
Source link