Earnings Reports Push European Shares Higher

European stocks rose on Friday, supported by positive earnings reports from Barclays and carmakers, while continued concern about the economic impact of a spike in COVID-19 cases puts markets on a path of weekly losses.

The pan-European STOXX 600 index rose 0.2%, while Asian markets recorded narrow trading ranges as investors are cautiously trading less than two weeks before the US presidential election.

Britain’s FTSE 100 index was supported by a 2.8% jump in Barclays stock after the bank reported better-than-expected quarterly earnings.

Automaker Daimler rose 1.9% after raising its 2020 earnings forecast, while Renault’s shares rose 1.5% after the company said it would achieve positive cash flow from cars by the end of 2020 as sales recover.

But the gains were limited as France appeared to be preparing to extend the curfew to more than two-thirds of its population after the country recorded its highest daily rate of coronavirus cases on Thursday.