European Stocks Advance to Three-Week High Amid Earnings
This article is for subscribers only.
European stocks rose to a three-week high as companies from Deutsche Bank AG to Statoil ASA reported earnings that beat estimates.
Deutsche Bank climbed 2.2 percent after Europe’s largest investment bank said first-quarter profit dropped less than projected. Statoil gained 4.5 percent. Nokia Oyj gained 2.9 percent after naming a new chief executive officer and saying it will spend about 5 billion euros ($6.9 billion) on dividends, share buybacks and debt reduction. ABB Ltd. fell the most in four years after the world’s largest maker of power transformers posted quarterly profit that missed estimates.