LIVE MARKETS-STOXX rises as results impress, FTSE hits record

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STOXX RISES AS RESULTS IMPRESS, FTSE AT RECORD

The STOXX 600 (.STOXX) is adding 0.6%, while the UK’s FTSE 100 is at a record high as a stream of stellar corporate earnings from tech, to retail and healthcare push the index higher.

On a sector basis, tech names (.SX8P) are the best performers, surging 1.7%, while retail (.SXRP) gets a 1.3% boost.

Britain’s sportswear retailer JD Sports Fashion (JD.L) is supporting the latter, up 6.1% after proposing to buy American athletic fashion retailer Hibbett (HIBB.O) for about $1.08 billion.

Germany’s Aixtron (AIXGn.DE) , which provides equipment to the semiconductor industry, is boosting tech, up 4.5% after its production platform was chosen by Vishay Intertechnology.

The top riser of the overall index though is Swedish banking platform Nordnet (SAVE.ST) , up 9.1% after a Q1 profit beat.

Britain’s FTSE 100 (.FTSE) surpassed its previous record high shortly after the open, with miner Ferrexpo (FXPO.L) as the UK’s top mover, up 9.8% after a strong Q1 production report and a broker upragde.

Nevertheless, the overall STOXX basic resources index (.SXPP) is off 1.3%, the worst performing sector as Anglo American (AAL.L) sheds 3% following a Q1 production report. Rio Tinto (RIO.L) and Glencore (GLEN.L) are down between 1.3%-1.6%.

Primark-owner Associated British Foods Plc (ABF.L) is also proving a boon for the FTSE, up 8.8% after reporting a 39% jump in Q1 profit.

(Lucy Raitano)

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