By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European equities advanced Tuesday, on
track for a second consecutive session of gains, as investors
assessed a fresh round of corporate financial results.
The Stoxx Europe 600 rose 0.6% to 335.98, adding to Monday's
0.2% rise. That prior-day gain was fronted by a 14% rally in
AstraZeneca PLC , after Pfizer Inc. (PFE) renewed its interest in a
takeover of the drug maker. AstraZeneca shares on Tuesday eased by
1.2%.
But Deutsche Bank AG shares gained 1.3%, helping lift the Stoxx
600, after the banking-sector heavyweight's first-quarter profit
came in above analyst expectations. The move also supported a 1.2%
climb in Germany's DAX index . The best advancer on the German
stock gauge was Infineon Technologjes AG , which rose 5.9%
following the chipmaker's better-than-expected second-quarter
results.
Infineon also forecast revenue growth and margin "to be at least
at the upper end" of previously set projections.
From the economic front, a GfK German consumer-confidence survey
showed that though confidence remains high, higher tensions between
Moscow and Kiev could weaken economic prospects for Europe's
largest economy.
Nokia Oyj shares pushed 6.2% higher as the mobile company said
it will distribute more than 3 billion euros to investors, using a
significant chunk of cash from the recent sale of its handset
business to Microsoft Corp. (MSFT) . Also, the company's
first-quarter loss narrowed from the year-ago period.
On the downside, stock in ABB Ltd. slumped 6% after
first-quarter earnings and revenue at the power-and-technology
company fell short of projections by analysts.
In London, government-services provider Serco Group PLC warned
of a possible downward revision to its expectations, which was
followed by an 18% slide in shares.
Also in the U.K., the FTSE 100 index rose 0.4% to 6,728.60. Data
released Tuesday by the Office for National Statistics showed the
U.K.'s gross domestic product grew by 0.8% in the first quarter,
missing analysts' and the Bank of England estimates.
In France, CAC 40 slipped less than 1 point to 4,460.41.
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