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European Stocks Gain as Repsol, Swiss Re Beat Estimates

Posted by Forexsq 196 days ago (http://www.bloomberg.com)

European stocks advanced, with the region’s equities rebounding from their biggest slide in two weeks, as companies from Repsol SA to Swiss Re Ltd. posted profit that exceeded analysts’ estimates. U.S. index futures also rose, while Asian shares slumped.

Repsol SA climbed 1.6 percent as quarterly profit jumped because of increased production. Swiss Re gained 3 percent after saying smaller losses from natural disasters helped net income surge in the third quarter. Siemens AG (SIE) rose 2.9 percent after Europe’s largest engineering company announced that it plans to cut costs by 5 billion euros ($6.4 billion).