Europe Markets

Europe shares end higher on earnings; Greece up 3%

Europe shares end higher on earnings; Greece up 3%
Europe shares end higher on earnings; Greece up 3%

European equities finished slightly higher on Friday as investors reacted to a slew of corporate earnings news.

The pan-European Euro Stoxx 600 Index ended around 0.3 percent higher, with all major bourses mostly higher.

The German DAX outperformed the index and finished around 0.6 percent higher, after Germany's IFO survey of business sentiment showed a rise in April and came in close to market expectations.

The U.K.'s FTSE 100 closed provisionally up 0.2 percent and the French CAC ended up 0.3 percent.

Electrolux shares soared to close over 9 percent higher, as the electrical manufacturer reported a smaller-than-expected fall in profits for its first quarter.

Electrolux Q1 was 'mild' for US demand: CEO
Electrolux Q1 was 'mild' for US demand: CEO

Upbeat earnings also came from Banco Sabadell, which saw its shares climb as much as 6 percent, as the lender announced a 75 percent jump in first-quarter profit.

However, AstraZeneca shares closed around 1.6 percent lower, following the drugmaker's first-quarter results, which showed a drop in sales.

Stocks in Intesa Sanpaolo briefly tumbled after a letter was circulated suggesting that Chief Executive Carlo Messina had tendered his resignation. The Italian lender however confirmed the letter was a fake and shares bounced back almost immediately.

European markets

U.S. stocks traded mostly higher on Friday on continued momentum from Thursday's high levels as investors cheered major earnings reports.

The Nasdaq Composite held gains after opening more than 30 points higher, and the held higher, while the Dow attempted to shake off a decline as its top-weighted stocks lagged.

As expected, little progress was made when Greece's finance minister met with his euro zone counterparts on Friday.

Nonetheless, the Athens composite index finished more than 3 percent higher on the day.