European stocks rise supported by the industrial sector

On Thursday, European stocks witnessed a rise, buoyed by the industrial sector’s performance, fueled by positive results from ABB Group. However, Sartorius shares faced a significant decline on the German stock exchange following a quarterly drop in orders.

The European STOXX 600 index advanced by 0.2 percent as of 0717 GMT, signaling increased momentum in the corporate earnings season.

Notably, the industrial sector index led the gains, surging by 0.7 percent, propelled by a notable six percent surge in ABB shares. The Swiss engineering company surpassed market expectations with its first-quarter profits.

Conversely, Sartorius shares plummeted by 7.4 percent, marking the steepest decline in six months within the benchmark index. The French-German laboratory supplies maker fell short of analysts’ projections for order numbers and revenues in the first quarter.

In contrast, the healthcare sector registered the most substantial losses on the STOXX index, with the sector index declining by 0.3 percent.

Among the notable losers, Nokia stock experienced a 2.2 percent decline following disappointing quarterly profit figures from the Finnish telecommunications equipment maker, which fell short of estimates.