Novo Nordisk, Siemens earnings increase European shares at open

Novo Nordisk, Siemens earnings increase European shares at open

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Aug 5 (Reuters)European shares hovered close to file ranges on Thursday as sturdy earnings from Novo Nordisk and Siemens helped counter weak spot in miners and banking shares that weighed on UK’s blue-chip index.

The pan-European STOXX 600 index .STOXX inched up 0.1% after a three-day run of positive aspects that took it to recent highs.

Danish firm Novo Nordisk NOVOb.CO rose 3.1% after it raised its full-year forecast and posted above-forecast quarterly earnings on sturdy gross sales and demand for its new weight problems drug.

German industrial agency Siemens SIEGn.DE climbed 3.9% because it lifted its revenue steerage for the third time this yr.

Retailers took a success as German on-line vogue firm Zalando ZALG.DE slid 7.2% after it mentioned it had spent extra on advertising to maintain its clients procuring.

Adidas ADSGn.DE additionally fell 3.6% after it raised its outlook for full-year gross sales and profitability however took a success in China.

UK’s FSTE 100 .FTSE slipped as Lloyds Banking Group LLOY.L tumbled after Goldman Sachs downgraded its inventory to promote, whereas falling metallic costs weighed on miners. MET/LIRONORE/

(Reporting by Sruthi Shankar in Bengaluru; Enhancing by Sriraj Kalluvila)

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