European Stocks Advance on Upbeat Results, US-Iran Talks Hopes

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Or sign-in if you have an account.5[hzq}rwhspwi28g5iu8nud}_media_dl_1.png Bloomberg(Bloomberg) — European stocks rose after upbeat results from companies including Unilever Plc and Safran SA, while renewed optimism about peace in the Middle East also boosted sentiment.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Stoxx Europe 600 Index was up 0.3% by the close, within striking distance of its early July record high. Personal care and media were the best-performing sectors, while energy and utilities were the biggest laggards. Oil prices slumped about 4% in a volatile session as traders positioned for potential progress toward peace talks ahead of President Donald Trump’s scheduled meeting with Israeli Prime Minister Benjamin Netanyahu. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againUnilever jumped 8%, its biggest gain since 2022, after the maker of Dove soap said sales rose more than expected in the second quarter. Safran rose 2.9% after the French defense group boosted its full-year guidance following first-half results that beat estimates.The European earnings season has been reassuring so far, with about half of MSCI Europe companies that have reported results delivering beats, according to data compiled by Bloomberg. This helped offset the impact of the escalating global selloff in semiconductor stocks on Tuesday, fueled by investor concerns about excessive AI spending. “One thing is certain, the strength of this earnings season means that investors have options to rotate out of semis, it would have been a different story if earnings had been bad,” said Olivier David, a fund manager at Vega Investment Solutions in Paris. The biggest drag on the pan-European index was ASML Holding NV, which slid to the lowest since late May after a report that a Chinese state-backed company has begun mass producing certain chipmaking machines, posing a potential threat to the Dutch firm’s sales.Among other individual movers, Barclays Plc dropped 4.8% after its second-quarter earnings showed that US consumer banking and investment bank growth had not matched the pace set by larger American rivals.For more on equity markets:Risk Events Are Everywhere You Look This Week: Taking StockM&A Watch Europe: Monte Paschi, BPM, Stellantis, Hugo Boss, EDPEquity Outflows Are Holding Up Europe’s IPO Revival: ECM WatchUS Stock Futures Unchanged; Opko Health, Applied Digital GainAn Irish Exit: The London RushYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.—With assistance from John Viljoen and Michael Msika.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.