European stocks edge higher; AB Inbev results help ahead of key data
Investing.com — European stock markets edged higher Tuesday, as investors digested more corporate earnings ahead of the release of key regional growth and inflation data, overshadowing disappointing Chinese activity data.
At 03:45 ET (08:45 GMT), the DAX index in Germany traded 0.5% higher and the CAC 40 in France climbed 0.6% and the FTSE 100 in the U.K. rose 0.2%.
Investors have been digesting more quarterly earnings from a series of influential companies Tuesday.
Anheuser Busch Inbev (EBR:ABI) stock rose 2.5% after the world’s largest brewer reported third-quarter sales growth that was slightly better than expected, and also announced a $1 billion share buyback, as pricing boosted revenue and helped offset lower volumes of beer sold.
Rival Carlsberg (CSE:CARLb), by contrast, fell 2% after the Danish brewer reported third-quarter sales broadly in line with expectations but warned that weak consumer sentiment in Europe and Southeast Asia could impact beer markets negatively.
BP (LON:BP) stock fell 4.6% after the energy giant reported third-quarter earnings of $3.3 billion, missing analysts' forecasts, after a large drop in energy prices from a year ago, overshadowing an extension of its $1.5 billion share repurchase program.
BBVA (BME:BBVA) stock fell 2% after the Spanish lender's 29% year-on-year rise in provisions and a loss in Turkey overshadowed a 13% rise in third quarter net profit.
Thales (EPA:TCFP) stock slumped 4% after Europe's largest defence electronics maker said its order intake fell 18% from the same period last year, even with resurgent demand for jetliner components and military equipment.
Investors will have the opportunity to study the latest eurozone growth and inflation data later in the session, as
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