European stocks reinforced by first Q1 earnings report
European stocks moved higher on April 23 after a number of earnings reports surpassed the pessimistic expectations. Investors are still preparing for upsetting data on business activity.
At 07:05 GMT pan-European STOXX 600 index climbed up 0.3%. The broadest index is recuperating after a disastrous oil prices plunge for a second day straight.
Credit Suisse Group AG was the first of large European banks to publish its Q1 report. Its profits jumped 75%,data has driven the shares up by 2.5%. The group still warned traders that the pandemic might hinder their work in the next quarters.
Stimulus packages and gradual levelling off of the pandemic are slowly driving the markets to recovery. Nevertheless, experts are still skeptical about a rapid recovery - manufacturing sector data is expected to be as bad as in Asia.