European stock markets were mostly higher on Monday, with the benchmark index on track for an eighth straight day of gains, as regional majors such as Akzo Nobel NV and Royal Philips NV rallied after upbeat earnings reports.
The Stoxx Europe 600 index added 0.1% to 318.65, building on a 0.8% gain from Friday.
In Europe, Germany’s DAX 30 index fell 0.12%, retreating from an all-time high reached on Friday. France’s CAC 40 index lost 0.31%, while the U.K.’s FTSE 100 index was up 0.16%.
Data released showed on a monthly basis the German PPI increased 0.3% in September, compared with the 0.1% drop in August. Analysts pointed to a 0.1% increase. On an annual basis PPI fell 0.5% in September, after dropping 0.5% in August and above expectations of -0.7%.
Shares of Akzo Nobel jumped 7% after the paints and coatings firm said it returned to profit in the third quarter.
Royal Philips climbed 6.1% after the electronics giant said net profit more than doubled in the third quarter, mainly due to lower operating costs.
On a more downbeat note, luxury-goods firms Hugo Boss AG , TOD’s SpA and Luxottica Group SpA all dropped more than 2% after Goldman Sachs cut the companies to neutral from sell.
Royal Bank of Scotland Group Plc, the largest state-owned British lender, tumbled 4.8%, the biggest drop since August.
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