29.01.202608:30:19UTC+00European Stocks Higher on Earnings

European stocks experienced an upswing on Thursday, evidenced by the STOXX 50 increasing by 0.8% and the STOXX 600 up by 0.6%, as investors assessed the latest corporate earnings reports. ABB saw an impressive surge, nearly 10%, following the release of its strong quarterly performance. ASML Holding rebounded over 4% after a 1.7% dip in the previous session, even though it had already posted solid quarterly figures. Siemens made gains, rising by 3.1%, while STMicroelectronics jumped 3.4% after surpassing revenue predictions. ING rose by 0.8%, buoyed by strong profit and income guidance, and Swedbank climbed 1.1% after surprising the market with a dividend higher than expected. However, on the downside, SAP dropped by 12% despite reporting revenue in line with forecasts, as persistent concerns over its AI strategy affected investor sentiment. Deutsche Bank's shares decreased by 1.5%, and Roche fell by 1.3% after cautioning about negative currency impacts on drug sales. Meanwhile, Sanofi remained relatively stable despite falling short of revenue expectations.