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European stocks recorded a second consecutive weekly gain Friday, October 9th, as positive expectations from Pandora and Novo Nordisk gave the Danish side a more optimistic character to the earnings season, as investors’ eyes continued to turn to indications of a new US stimulus.
The pan-European STOXX 600 index closed 0.6% higher, ending the week with a 2.1% gain.
Global stocks gained this week on growing expectations that the Democratic Party would win
The US elections next month, which raised hopes for more economic stimulus there.
In Europe, local markets have been boosted by a series of mergers and acquisitions, as well as recovery of stricken sectors such as travel, entertainment, banking, and oil and gas.
Aircraft engine maker Rolls-Royce has nearly doubled in value since Monday, while British Airways’ owner IAG jumped 13.2%.
Pandora jewelery maker rose 17.2%, topping STCOS 600 today, after it raised its earnings outlook on the back of an increase in sales and a major boost to its online selling activity.
Pharmaceutical maker Novo Nordisk added 3.3% after it raised its sales and operating profit forecasts for 2020.
