Strong corporate reporting spurred growth in European stocks

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The composite index of the largest enterprises in the region Stoxx Europe 600 on Tuesday rose 0.35% to 472.32 points.

The British FTSE 100 Index rose 0.4%, the German DAX rose 0.16%, the French CAC 40 rose 0.1%, the Italian FTSE MIB rose 0.24%, the Spanish IBEX 35 rose 0.37% ...

Deliveroo Plc, a British food delivery service, gained 6.9%. The share price has been actively growing for the second session in a row on the information that the German delivery service Delivery Hero SE acquired a 5.09% stake in it.

The share price of the British bookmaker Flutter Entertainment Plc jumped 7.8% on the back of strong quarterly earnings from the company.

Germany's HelloFresh, which delivers food kits with recipes for cooking, rose 9.2%. The company released preliminary financial results, which showed revenue growth in the second quarter by 60% over the same period last year.

Oil companies BP Plc and Royal Dutch Shell gained 1.1% and 0.5%, respectively, on the back of higher oil prices.

The index of economic expectations of investors and analysts in Germany for the next 6 months, calculated by the research institute ZEW, fell to 40.4 points in August, the lowest since November 2020, data released on Tuesday showed. Experts surveyed by Trading Economics predicted an average decline of 56.7 points from 63.3 points in July.

According to Craig Earlam, an analyst at OANDA Europe - the current economic conditions remain strong, but further expectations of investors are influenced by signals of weakening growth in China and the spread of the new strain of COVID-19 delta.

The material has been provided by InstaForex Company - www.instaforex.com

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