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- European stocks gained for a fourth day
European stocks gained for a fourth day
European stocks gained for a fourth day as companies posted better-than-estimated earnings and German investor confidence climbed.
Investor confidence in Germany, Europe’s largest economy, rose more than forecast in August. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations advanced to 42 from 36.3 in July. Economists had predicted a reading of 39.9, according to the median of 42 estimates in a survey.
EON rallied 3.2 percent to 12.62 euros, the biggest gain since May 3. The company reported first-half underlying net income of 1.91 billion euros ($2.54 billion), topping the average analyst estimate of 1.79 billion euros.
Rival RWE AG, the second-largest utility in Germany, increased 2.8 percent to 22 euros.
GAM Holding jumped 7.8 percent to 16.60 Swiss francs, the largest gain since January 2012. The asset manager that split from Julius Baer Group Ltd. almost four years ago said first-half profit more than tripled after fee and commission income increased.
FTSE 100 6,567.41 -15.98 -0.24%
CAC 40 4,059.8 -16.75 -0.41%
DAX 8,272.62 -65.69 -0.79%
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