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European Stocks Push Higher on Positive Earnings

Stocks in this article: RBS

LONDON ( The Deal) -- European stock indices rose on Tuesday, shrugging off disappointing data from China, amid a raft of largely positive earnings reports.

Chinese industrial output, investment and retail sales growth all unexpectedly slowed in April, according to National Bureau of Statistics figures. Meanwhile in Europe, the ZEW index of investors' and analysts' economic sentiment for the eurozone unexpectedly fell in May, and the index for Germany fell more than expected.

In Frankfurt, the DAX was up 0.52% at 9,753.18. In Paris, the CAC 40 was up 0.11% at 4,498.40. The FTSE in London edged up 0.08% to 6,857.28. The Bank of England is expected in a report Wednesday to signal that rates will rise from their historic low level of 0.5%.

In Frankfurt, steelmaker ThyssenKrupp was the lead gainer on the DAX after lifting its full-year sales and profit targets as it announced it had swung back to the black in terms of net profit in the first half for the first time in two years.

In Paris, aerospace company Airbus surged more than 5% after first-quarter profit beat forecasts.

Danone was up 1.7% as Morgan Stanley lifted its recommendation on the stock to equal weight from under weight. Bloomberg reported on Monday that Danone may sell its medical nutrition unit to Nestle for about 3 billion euros ($4.1 billion) and was in advanced talks with the Swiss company. EQT Partners has been named among other potential suitors.

But publisher Lagardere slumped 2.4% after announcing first-quarter sales dropped 6.2%. It put the slump down to the fact the year-ago period was boosted by the "Fifty Shades" franchise of erotic novels.

In London, Royal Bank of Scotland (RBS) edged higher after its Citizens Financial Group unit in Providence, R.I., filed for a U.S. IPO.

Discount carrier Easyjet fell more than 4% on disappointment about the airline's projected growth in revenue per seat, even as first-half sales rose and its loss narrowed.

Package tour operator Tui Travel slipped after announcing a 4% decline in first-half sales as its operating loss widened by 3%. It attributed its difficulties in part to the late Easter and a dropoff in demand for vacations in Egypt.

Indices in Asia Pacific were mixed, with mainland Chinese indices closing lower following the disappointing economic data. The Hang Seng in Hong Kong closed up 0.41% at 22,352.38.

In Tokyo the Nikkei 225 closed up 1.95% at 14,425,44.

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