European Stocks Higher; Thales Raises Full-Year Forecast By Investing.com – Investing.com

European Stocks Higher; Thales Raises Full-Year Forecast By Investing.com – Investing.com

© Reuters.

By Peter Nurse 

Investing.com - European stock markets traded higher Friday, helped by a supportive tone from the European Central Bank and more positive quarterly corporate earnings.

At 4:10 AM ET (0810 GMT), the in Germany traded 0.6% higher, the in France rose 0.7% and the U.K.’s climbed 0.7%.

The ECB kept its very accommodative in place on Thursday, maintaining its benchmark interest rate at 0% as well as its 1.85 trillion euro asset-purchase scheme, while also tying its new forward guidance on interest rates more closely to inflation, suggesting they aren't likely to rise anytime soon.

This update suggests the ECB is now one of the more dovish members of the central bank club, likely supporting the recovery the stock market has made from Monday’s rout.

Also helping has been the generally strong quarterly corporate updates in the early stages of this earnings season, and Friday was no exception.

Thales (PA:) stock reached a new 52-week high after the French defense electronics company, Europe’s largest, raised its full-year revenue target after posting an almost 10% gain in first-half revenues

Skanska stock soared over 6% after the Swedish builder reported a