Unilever, Nokia earnings push European shares towards record high

  • Reuters
  • Stock Market News
Unilever, Nokia earnings push European shares towards record high
Credit: © Reuters.

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April 29 (Reuters) - European stocks edged back towards record-highs on Thursday after a slew of upbeat earnings reports and the U.S. Federal Reserve's pledge to stick to loose monetary policy.

The pan-European STOXX 600 index .STOXX rose 0.4% by 0713 GMT, trading just about 3 points below its record peak.

Consumer goods giant Unilever ULVR.L rose 3.2% as a pick up in home cooking and a strong economic recovery in China drove better-than-expected quarterly sales. The company also announced a share buyback programme up to 3 billion euros ($3.6 billion). telecom network equipment maker Nokia NOKIA.HE surged 13.7% as growth in sales of network and 5G equipment boosted its quarterly earnings. oil majors, UK's Royal Dutch Shell RDSa.L gained 1.6% after it raised its dividend by 4% following a strong quarter, while France's Total TOTF.PA was up 1.4% after it reported first-quarter earnings close to pre-pandemic levels. planemaker Airbus AIR.PA added 3.0% after it posted higher quarterly core earnings.

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