European Stocks Advance as SAP, Actelion Results Beat Forecasts

European stocks climbed as companies including SAP SE and Actelion Ltd. posted better-than-forecast results.

The Stoxx Europe 600 Index rose 0.6 percent to 409.12 at the close of trading. The measure extended gains to as much as 1 percent after Dutch Finance Minister Jeroen Dijsselbloem told RTL Television that some progress had been made in debt talks with Greece and a deal may still be reached by the end of the month. Shares had earlier pared their advance as a measure of German investor confidence unexpectedly fell in April.

SAP climbed 2.3 percent after reporting first-quarter sales that topped estimates as a weaker euro boosted revenue. Actelion added 5.2 percent as it increased its full-year forecast after quarterly profit beat predictions.

Stocks rebounded Monday from the year’s biggest weekly decline, with commodity shares leading gains after China’s central bank boosted stimulus measures.

Among other shares moving on corporate news today, Publicis Groupe SA rose 6.2 percent after posting better-than-forecast quarterly revenue aided by a weaker euro. Sky Plc added 5 percent after saying nine-month revenue increased.

Source : Bloomberg

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