European Stocks Gain, Gold Price Stalls As Investors Shift Focus To Corporate Earnings

Frankfurt (April 12)  European stocks shrugged-off global political tensions as investors shifted focus to corporate earnings, lifting benchmarks around the region and helping turn U.S. stock futures into the green.

The Europe-wide Stoxx Europe 600 Index was marked 0.5% higher at 383.04 points by 10:15 BST while U.S. equity futures indicated a 26point gain for the Dow Jones Industrial Average at the opening bell on Wall Street later in the session.

Germany's DAX performance index was the standout gainer, rising 57 points, or 0.46%, thanks in part to a solid advance for Daimler AG (DDAIY)  , which rose 1.26% to the top of the Frankfurt market after the luxury carmaker reported better-than-expected first quarter profits thanks to surging Mercedes sales.

Daimler's gains helped boost European automakers in both France and Germany, with the Stoxx 600 Automobiles & Parts index rising 1.03% to 553.54 points

Britain's FTSE 100 added 20 points, or 0.4%, in the opening two hours of trading despite a big 3.5% fall for Tesco's (TSCDY)  , which posted solid first-quarter earnings that were overshadowed by its proposed takeover of food distributor Booker (BOKGY) and regulatory fines linked to an accounting scandal.
Gold prices were little-changed in early in European trading after the bullion touched a five-month high in Asia as investors piled into safe-haven assets around the world amid rising geopolitical tensions.

Spot gold was marked 0.06% lower at $1,273.66 per ounce after reaching a five-month high of $1,279.80 in Asia dealing amid a retreat from risk assets such as stocks and corporate bonds.

Source: TheStreet