Better Than Expected Earnings Help European Markets to Climb Out of the Hole

“European stocks advanced, after yesterday tumbling the most in four weeks, as technology companies rallied, outweighing worsening economic data from the euro area. U.S. index futures rose, while Asian shares fell.

SAP AG (SAP) gained 5.3 percent after the world’s biggest maker of business-management software raised its full-year revenue target as license sales beat estimates. STMicroelectronics NV (STM) climbed 2.7 percent on plans to cut costs. Volvo AB and Nordea Bank AB (NDA)declined more than 3.5 percent after the companies reported third-quarter earnings that missed projections.”

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