Good quarterly accounts overshadow delta concerns and gives Europe gains. Oil rises above 4% – markets in a minute

Good quarterly accounts overshadow delta fears and gives Europe gains

European stocks closed higher for the second consecutive session, with higher-than-expected quarterly results from the quoted weights to calm the tension around the delta variable from Covid-19, which led to a selling action at the start of the week.

The Stoxx 600 Index closed 1.65% higher at 453.97 points, the biggest rise since early May.

It comes after at least 14 members reported higher than analyst estimates.

Quotations from cyclical sectors such as travel, entertainment and energy drive the Stoxx 600 gains.

SML Holding stock rose 3.1% after announcing that orders for advanced semiconductor manufacturing machinery had risen to a record high.

Among the major indices in Western Europe, the most notable was the Spanish IBEX 35, which had the best performance by jumping 2.5%, encouraged by the bank’s listed companies and Inditex (owner of Zara).

Germany’s Dax is up 1.4%, France’s CAC-40 is up 1.9%, Italy’s FTSEMIB is up 2.4%, and Britain’s FTSE 100 is up 1.7%. In Amsterdam, the AEX rose 1.6%.