European stocks near record high on strong AB Inbev, bank earnings

  • Reuters
  • Stock Market News
European stocks near record high on strong AB Inbev, bank earnings
Credit: © Reuters.

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May 6 (Reuters) - European stocks inched higher on Thursday, hovering near record levels, as strong earnings reports from AB Inbev and several eurozone banks added to an upbeat mood sparked by solid economic data.

The pan-European STOXX 600 index .STOXX rose 0.2% by 0716 GMT, with food and beverage .SX3P , utilities .SX6P and telecoms .SXkP leading the gains.

Anheuser-Busch InBev ABI.BR gained 3.4%, boosting the STOXX 600, after it reported first-quarter earnings ahead of expectations and said North America boss Michel Doukeris will replace Carlos Brito as chief executive officer. No.2 bank UniCredit CRDI.MI jumped 4.5% and French lender Societe Generale SOGN.PA surged 6.1% after reporting higher-than-expected quarterly earnings. wider euro zone banking sector .SX7E rose 1.0% to hit a fresh 14-month high.

Europe's largest car maker Volkswagen VOWG_p.DE slipped 0.5% even as it raised its operating margin target for 2021. was a busy day for UK markets, with the blue-chip FTSE 100 .FTSE rising 0.3% ahead of Bank of England's monetary policy decision and with local and regional elections underway. .L

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