By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Stock markets posted firm gains across
Europe on Tuesday, with a round of solid earnings report helping
boost the mood after the recent selloff.
The advances came following a turbulent trading day on Monday,
when the major benchmarks all closed with sharp losses. Last week,
many indexes also slumped to one-year lows amid concerns the
eurozone could slip back into recession after Germany showed
renewed signs of economic weakness.
Tuesday's market reaction: The Stoxx Europe 600 index gained
0.5% to 318.56, almost bringing it into positive territory for the
week.
Germany's DAX 30 index added 0.6% to 8,768.80, while France's
CAC 40 index rose 0.7% to 4,017.68. The U.K.'s FTSE 100 index
picked up 0.4% to 6,289.35.
Earnings boost: Several companies rallied in Europe on Tuesday
after reporting quarterly earnings. Swiss biotech company Actelion
Ltd. jumped 6.5% after it said strong sales of a new drug helped
lift earnings in the third quarter, prompting an upgrade to its
full-year guidance.
Akzo Nobel NV climbed 5.1% after the Dutch painting and
chemicals company said profits rose 32% in the third quarter.
ASOS PLC surged 18% after the online fashion retailer reported a
27% rise in full year retail sales.
Swedbank AB put on 3.1% after the bank reported
better-than-expected third-quarter earnings.
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