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European stocks climbed due to the better-than-expected earnings reports. Market participants were unimpressed by the worse-than expected Spanish unemployment rate. Spain’s unemployment rate rose to 25.9% in the first quarter from 25.7% in the fourth quarter of 2013. The fourth quarter figure was revised down from 26.0%. Analysts forecasted the fall to 25.6%.
Nordea Bank AB shares jumped 3.2% due to its revenue increased 4.7% in the first quarter.
Statoil ASA was up 4.0% after beating its earnings forecast.
Nokia Oyj climbed 7.1 percent after naming a new chief executive officer.
PSA Peugeot Citroen dropped 5.57% after offering stock to investors at 6.77 euros a share.
ABB Ltd. shares - the world’s largest maker of power transformers - declined 6.9% after reporting the 18% fall of its first-quarter net income.
Name Price Change Change %
FTSE 100 6,744.58 +44.42 +0.66%
DAX 9,555.4 +109.04 +1.15%
CAC 40 4,481.92 +21.39 +0.48%
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