Shares of Electrolux jumped by up to 6 percent after the home appliances maker reported second quarter earnings above market expectations on Friday and forecast growth in white goods markets in both Western Europe and the United States.
Electrolux, which sells under brands such as AEG, Zanussi and Frigidaire as well as its own name, said market demand in Western Europe continued to strengthen while ongoing cost savings boosted profits.
Chief Executive Keith McLoughlin said the home appliances market was expected to grow 1-2 percent in Europe this year and he appeared a tad more upbeat on North America with a 3-5 percent forecast. In the previous quarter he predicted growth in the latter region was seen at the lower end of that range.
"Operations in North America reported good organic growth, mainly driven by high sales volumes of air-conditioners," McLoughlin said in a statement.