STOXX up on stellar earnings but autos temper gains
STOXX 600 up 0.3%
Earnings in focus
Food and beverages lead gains
Autos drag
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STOXX UP ON STELLAR EARNINGS BUT AUTOS TEMPER GAINS
The STOXX 600 .STOXX is up 0.3%, as the market hones in on some better-than-expected corporate earnings from the energy and food and beverage sector, while shrugging off some disappointing numbers elsewhere.
The top riser is Germany's Siemens Energy ENR1n.DE, adding 10% after it raised its outlook and said it will replace the boss of its troubled wind turbine division.
French train maker Alstom ALSO.PA is next, up 5% after it said it plans to launch a rights issue of around $1 billion.
Shares in the world's largest beer maker Anheuser-Busch Inbev ABI.BR rose 4.8% after reporting a strong first-quarter performance.
AB Inbev's results are helping out the whole food and beverages .SX3P sector, which is the top performer today, up 1.4% and on track for its biggest daily jump since Jan 26.
But it's not all sunshine and rainbows.
German carmaker BMW BMWG.DE is down 4% after saying it expects a slight drop in pre-tax profit. An index of European automakers is the worst off on a sector basis today down 1.3%.
Shares in Spanish bank Sabadell SABE.MC are down 3.7% after BBVA told the company it will not improve the all-share takeover offer it has made for Sabadell.
(Lucy Raitano)
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