By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- A deluge of earnings reports is keeping investors in Europe busy on Thursday, with oil companies one of the few sectors in black after encouraging earnings reports from Royal Dutch Shell PLC and BG Group PLC.

Risers

Royal Dutch Shell (RDSB) jumped 4% after the oil giant said its second-quarter profit more than doubled, as it benefited from higher liquid-petroleum prices and higher prices for specific products.

Another energy heavyweight, BG Group , advanced 2.7% after the company reported a 25% rise in second-quarter earnings.

Subsea 7 SA rallied 5.9% after the Norwegian seabed-to-surface engineering contractor said it swung to a profit in the second quarter.

German health-care group Fresenius SE put on 3.5% after reporting a rise in second-quarter profit and raising its sales outlook.

Siemens AG (SIEGY) picked up 1.2% after the German industrial conglomerate said profit for the third fiscal quarter rose 28%.

BT Group PLC (BT) climbed 1.8% after the U.K. telecom firm recorded a rise in first-quarter earnings despite lower revenue.

Losers

Adidas AG slumped 12% after the German sportswear retailer issued a profit warning for 2014 and pushed its targets back to 2015.

Deutsche Lufthansa AG lost 6.3% after the airline reported second-quarter earnings below expectations.

Alcatel-Lucent SA slid 6.1% after the French network-equipment maker reported a loss for the second quarter, although it was smaller than in the same period last year.

Metro AG gave up 4.6%. The German retailer said it swung to an unexpected loss in its third fiscal-quarter due to a strong euro and disposals of business units.

Lloyds Banking Group PLC (LYG) fell 2.2% after the U.K. lender said profit fell sharply in the first half of the year due to a number of legacy charges.

Telefonica SA(TEF) slipped 1.2%. The Spanish telecoms major said second-quarter profit rose 4.9%, but that revenue continued to fall in Latin America and most of Europe.

Afren PLC sank 34%. The oil-exploration company said it has suspended its chief executive officer, Osman Shahenshah, and chief operating officer, Shahid Ullah, after discovering "unauthorized payments" potentially made for their benefit.

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