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The pan-European Stoxx 600 rose by 0.11%, with most industries trading in positive territory. Telecommunications led the gains with strong earnings. BT rose 6% after raising its outlook, which pushed the entire sector up.
In addition, oil and gas stocks were under pressure, also because of profits. Tgs-Nopec Geophysical sold 5% after a lower than expected operating profit in the third quarter.
On the whole of the European benchmark, the ASMI posted the largest increase, by 12%, after the solid third quarter results. The Swedish Hexagon stock also jumped 8% after the company beat expectations with its latest results. Credit Suisse lost 4% after missing forecasts, despite a 74% increase in net profit compared to last year.
The market is largely aware of Brexit developments, after The Times reported that British Prime Minister Theresa May agreed with Brussels on conditions that would give British financial services companies continued access to European markets after Brexit.
The news has pushed the pound to move away from the trough reached for two and a half months earlier this week. The currency had been affected by concerns of an orderly exit from the European Union next year.
Investors are also waiting to hear about the Bank of England's decision on interest rates around noon. Central bank policymakers should generally maintain their rates.
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