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Feb. 11, 2021, 5:40 a.m. EST

European stocks rise as AstraZeneca advances after earnings

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By Steve Goldstein

A solid set of corporate earnings helped lift European stocks higher on Thursday.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.46% rose 0.3%, after ending lower for two sessions. U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -0.14% also advanced.

The latest reading showing core U.S. prices were flat in January helped quell talk about possible inflation coming from the Biden administration’s proposed $1.9 trillion coronavirus relief package for the world’s largest economy. “With the green light from the inflation data, Joe Biden could easily defend his $1.9 trillion stimulus package in Senate, while the Fed continues massive bond purchases and its near-zero rate policy a couple of more years,” said Ipek Ozkardeskaya, senior analyst at Swissquote.

Corporate earnings were generally well-received.

AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN -0.85% /zigman2/quotes/200304487/composite AZN -1.04% shares edged up 2%, after the U.K.-Swedish pharmaceutical reported smaller earnings but stronger revenue than expected, declared a steady dividend, and guided for low-teens percentage growth in revenue this year. “Some of these numbers have come in below analyst expectations, however with the share price down over 15% over the last three months, one has to question whether these minor misses will matter that much,” said Michael Hewson, chief market analyst at CMC Markets U.K.

Royal Mail /zigman2/quotes/204213037/delayed UK:RMG -0.20% shares surged 6%, after lifting its operating profit target due to increased online-shopping deliveries.

Crédit Agricole /zigman2/quotes/209264506/delayed FR:ACA -0.03% shares rose 5%, as the French bank reported a surprise fourth-quarter profit, though it was 93% lower than a year ago.

Unibail-Rodamco-Westfield /zigman2/quotes/207218984/delayed NL:URW -1.76% shares tumbled 14%, after the shopping-mall operator said it was suspending dividends for three years as adjusted earnings per share dropped 41% last year.

/zigman2/quotes/210599654/delayed
XX : STOXX
435.24
-1.99 -0.46%
Volume: 0.00
April 12, 2021 11:03p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,114.50
-5.80 -0.14%
Volume: 41,382
April 13, 2021 12:23a
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/zigman2/quotes/203048482/delayed
UK : U.K.: London
7,225.00 p
-62.00 -0.85%
Volume: 1.34M
April 12, 2021 4:35p
P/E Ratio
38.13
Dividend Yield
2.87%
Market Cap
£95.66 billion
Rev. per Employee
£282,763
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/zigman2/quotes/200304487/composite
US : U.S.: Nasdaq
$ 49.42
-0.52 -1.04%
Volume: 7.89M
April 12, 2021 4:00p
P/E Ratio
40.32
Dividend Yield
2.77%
Market Cap
$131.34 billion
Rev. per Employee
$365,423
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/zigman2/quotes/204213037/delayed
UK : U.K.: London
500.00 p
-1.00 -0.20%
Volume: 1.56M
April 12, 2021 4:35p
P/E Ratio
230.41
Dividend Yield
2.00%
Market Cap
£5.01 billion
Rev. per Employee
£66,805
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/zigman2/quotes/209264506/delayed
FR : France: Euronext Paris
12.53
-0.0040 -0.03%
Volume: 3.85M
April 12, 2021 5:37p
P/E Ratio
15.26
Dividend Yield
6.39%
Market Cap
€34.42 billion
Rev. per Employee
N/A
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/zigman2/quotes/207218984/delayed
NL : Netherlands: Euronext Amsterdam
68.53
-1.23 -1.76%
Volume: 490,023
April 12, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
7.88%
Market Cap
€9.66 billion
Rev. per Employee
N/A
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