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European Stocks Rise to Record as Earnings, China Boost Mood

HSBC posted results that beat estimates.

HSBC posted results that beat estimates.

Photographer: Hollie Adams/Bloomberg
Updated on

European equities closed at a record as August kicked off with positive earnings updates and easing concern about China’s regulatory crackdown.

The Stoxx Europe 600 Index was up 0.6% at the close. AXA SA rallied as first-half profit more than doubled, while Meggitt Plc surged 57% after agreeing to a takeover by Parker-Hannifin Corp.