Industrials drive STOXX 600 higher as earnings season gathers steam

Sartorius AG

18/04/2024 08:24

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       April 18 (Reuters) - European shares edged higher on
Thursday, with the industrials lifting the benchmark index
following ABB's upbeat results, while Germany-listed Sartorius
was on track for its biggest drop in six months after bleak
quarterly orders.
    The continent-wide STOXX 600  .STOXX  was up 0.2%, as of
0717 GMT, as the earnings season picks up steam.
    The industrials sector  .SXNP  was the biggest boost with a
0.7% jump, driven by a nearly 6% rise in ABB  ABBN.S  as the
Swiss engineering company's profit trounced market expectations
in the first quarter.
    Shares of Sartorius  SATG.DE  slid 7.4% to the bottom of the
benchmark index after the Franco-German lab supplies maker's
first-quarter figures missed analysts' expectations for order
intake and revenue. 
    The broader healthcare sector  .SXDP  was the biggest drag
on the STOXX with a 0.3% drop.
    Among others, Nokia  NOKIA.HE  slipped 2.2% after the
Finnish telecom gear maker's quarterly profit figures missed
estimates.
    
    


 (Reporting by Johann M Cherian in Bengaluru and Ozan Ergenay in
Gdansk; Editing by Sherry Jacob-Phillips)
 ((johann.mcherian@thomsonreuters.com;))