European Stocks Higher; Strong Shell 1Q Helps Oil Sector By Investing.com – Investing.com

European Stocks Higher; Strong Shell 1Q Helps Oil Sector By Investing.com – Investing.com

© Reuters.

By Peter Nurse 

Investing.com - European stock markets traded largely higher Thursday, helped by positive corporate earnings, particularly in the heavily-weighted oil sector, following the Federal Reserve's decision to keep to its easy money policies in place.

At 3:40 AM ET (0840 GMT), the in Germany traded 0.1% lower, but the in France rose 0.6%, to a new 52-week high, and the U.K.'s climbed 0.5%.

The first-quarter corporate earnings season continued apace Thursday, with the oil & gas sector in the spotlight.

Royal Dutch Shell (LON:) stock rose 1.7% after the oil major reported net income of $3.23 billion, its highest profit since the third quarter of 2019, following the recovery in global oil and gas markets. The company also reduced its debt burden and went ahead with a planned 4% increase to its dividend payout. Equinor ASA (OL:) also raised its dividend after reporting a sharp rebound in profit.

Total (PA:) stock also rose 1.4% after the French energy group reported net income of $3 billion, similar to the levels it was generating before the coronavirus pandemic hit profits. 

Elsewhere, Airbus (PA:) stock rose 2.7% after the aircraft manufacturer posted higher