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Frankfurt Stock Exchange on October 29, 2018 – Reuters
LONDON (Reuters) – European equities rose on Wednesday with the rest of October, buoyed by strong commercial results from L Oréal, Sanofi, Standard Chartered Bank and Santander, which allowed to mitigate investors' fears.
The STOXX 600 index of European equities rose by 1.74%, while the French CAC 40 rose by 2.3%.
Despite gains, the Stoxx 600 index has posted monthly performance since January 2016, as global equity markets experienced a surprise sell-off and accelerated volatility this month.
The euro area index recorded its weakest monthly performance since August 2015.
L'Oréal jumped 6.7% after accelerating the company's sales growth, including Maybelline, in the third quarter, driven by the rebound in demand in Asia.
The French pharmaceutical giant Sanofi rose 6.7% after confirming its third-quarter profits higher than expected and raised its target of 2018 for the second time this year.
Santander and Standard Chartered shares rose by 2.9% and 3.1%, respectively, after both banks performed better, boosting confidence in the troubled banking sector.
Prepared by Abdel Moneim Darar for publication in Arabic
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