European shares inch higher as financials rise

Credit: REUTERS/STAFF

European shares edged higher on Wednesday, boosted by financial stocks, as investors parsed through a mixed bag of earnings reports and awaited new developments on trade talks between the United States and China.

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Nov 6 (Reuters) - European shares edged higher on Wednesday, boosted by financial stocks, as investors parsed through a mixed bag of earnings reports and awaited new developments on trade talks between the United States and China.

Societe Generale shares SOGN.PA rose 3.5% after the bank said it had set aside three-quarters of the cash needed to deliver a planned dividend payout this year.

The French bank helped power a 1% rise in bank stocks .SX7P, and the pan-European STOXX 600 index .STOXX was up 0.06% by 0826 GMT.

Supermarket operator Ahold Delhaize AD.AS rose 2.2% after the Dutch company posted quarterly core earnings ahead of analysts' forecasts.

European shares were close to all-time highs, ending Tuesday at a more than four-year peak as investors grew more optimistic about a trade truce between the United States and China.

The lack of fresh trade developments helped shift focus back to the third-quarter earnings season which has been modestly better-than-expected so far.

(Reporting by Shreyashi Sanyal in Bengaluru, editing by Amy Caren Daniel)

((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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