Europe stocks close 1.6% higher as investors react to Fed, earnings; Bank of England holds rates

Coram Williams, CFO of The Adecco Group, discusses third-quarter earnings, and the company's strategy for continuing to increase market share amid a challenging labour market environment.

Michael Sen, CEO of healthcare provider Fresenius, discusses third-quarter earnings and the impact of rival Novo Nordisk's weight-loss drug Wegovy on its dialysis business.

Shares of rental housing business Kojamo surged 17% after the Finnish company posted strong third-quarter results.

Total revenue increased by 5.7%, to 111.5 million euros ($119 million), while net rental income was up 6.3% to 83.1 million euros.

The company did alter its annual outlook, suggesting total revenue would increase by between 7% and 8% in 2023, which is a downward revision of the previous 9% upper limit.

Kojamo attributed its results to the active rental market and an improved occupancy rate.

The company owned a total of 40,192 rental apartments at the time of writing the report.

— Hannah Ward-Glenton

The major averages opened in positive territory Thursday.

The Dow Jones Industrial Average advanced 213 points, or by 0.66%. The S&P 500 gained 0.96%, while the Nasdaq Composite jumped 1.22%.

— Sarah Min

Adecco shares were 12% higher at 10:38 a.m. London time after the Switzerland-based recruitment firm beat third-quarter estimates with a smaller than expected decline in earnings.

Equity gains were broad Thursday morning, as stocks including Derwent London, Kojamo and Grifols surged more than 10%.

Earnings beats also powered airline Lufthansa 7.2% higher and telecom firm BT up 5.3%.

— Jenni Reid

Shares of Lufthansa jumped 7.9% in morning trading on third-quarter earnings that beat analyst expectations. The German airline attributed the positive results to strong summer demand, being able to offer higher capacity and ongoing high yields.

The third-quarter results were the second-best quarterly results in the company's history, Lufthansa said, with a total operating profit of 1.5 billion euros ($1.59 billion).

The group also confirmed its outlook for the rest of the year, saying it expects demand for air travel to remain high.

— Hannah Ward-Glenton

European stock markets opened higher Thursday after notching a third straight positive session.

The Stoxx 600 index was up 1.16% at 8:28 a.m. London time, with France's CAC 40 gaining 1.26% and Germany's DAX up 1.16%. The U.K.'s FTSE 100 was 1% higher.

— Jenni Reid

Novo Nordisk on Thursday reported record profits and sales for the third quarter, but said supplies of its hugely popular weight loss drug Wegovy would continue to be restricted.

The Danish pharmaceutical giant posted third-quarter sales of 58.73 billion Danish krone ($8.34 billion), a 29% increase from the same period last year, driven by demand for its flagship Ozempic and Wegovy drugs in the U.S.

The company has struggled to keep up with demand for Wegovy, an appetite-suppressing anti-obesity drug, forcing it to limit the number of patients able to begin treatment.

"While supply capacity for Wegovy is gradually being expanded, the supply of the lower dose strengths in the US will remain restricted to safeguard continuity of care," the company said in its earnings report.

- Elliot Smith

British oil giant Shell on Thursday reported $6.2 billion profit for the third quarter, roughly in line with estimates, as the company benefited from higher oil prices and refining margins.

Analysts had expected adjusted earnings of $6.48 billion, according to LSEG data.

The company announced a $3.5 billion share buyback to be carried out over the next three months, up from $2.7 billion in the previous quarter.

Energy majors are coming off the back of a record year for profits, which was fuelled by soaring fossil fuel prices.

Read the full story here.

- Jenni Reid

Will the S&P 500 be nearer to 5,000 by the end of the year?

Morgan Stanley Investment Management's Andrew Slimmon was among some on Wall Street who earlier this year believed so.

CNBC Pro subscribers can read more here about what he thinks now.

Slimmon said if the market does rally into the year-end, it will be led by the "Magnificent Seven" stocks, naming his preferred play.

— Weizhen Tan

Analysts at investment firm Jefferies named Asian stocks primed to or continuing with significant buybacks, which they said are an opportunity for investors.

Companies buy shares back from investors for several reasons such as having a strong balance sheet and making valuations more attractive. Buybacks also provide a "sustained source of demand for equities while being a confidence-booster in terms of companies' belief in their own stock," Jefferies' analysts wrote in an Oct. 25 research note.

Several Chinese tech giants such as Tencent and Alibaba turned up on the list.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets are expected to open lower Tuesday.

The U.K.'s FTSE 100 index is expected to open 43 points lower at 8,381, Germany's DAX down 60 points at 18,708, France's CAC 33 points lower at 8,139 and Italy's FTSE MIB down 140 points at 34,788, according to data from IG.

Earnings come from Kingfisher, Smiths Group, Fresnillo and Generali. Euro zone trade balance and construction data for March are due.

— Holly Ellyatt