European stocks rise on corporate earnings

23 Jul 2020 01:41 PM

European stocks rose in early trading on Thursday, as investor optimism was boosted by on earnings updates from Unilever and Daimler.

Eurostoxx rose 0.3% as commodity stocks rose. Unilever NV rose 6.4% as the consumer giant reported a Q2 sales fall significantly lower than expected. Daimler AG shares jumped 5.4% on the back of higher profits after excluding interest and tax in the Mercedes-Benz division

Meanwhile, data showed German consumer sentiment improved more than expected in July, supported by a temporary VAT cut as part of a government stimulus package to combat the Coronavirus shock.


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