(Bloomberg) — European shares are set to advance for a fourth week in a row as strong earnings draw more investors to the region.
The Stoxx Europe 600 Index was little changed as of 8:24 a.m. in London. Consumer products and construction shares outperformed, while the energy and utilities sectors were among the biggest laggards.
In individual stocks, Air Liquide SA gained after the French industrial-gas producer posted second-half earnings ahead of expectations and raised its dividend.
The main regional index touched a fresh record high earlier this week as investors remain upbeat about company results and the economic outlook. MSCI Europe firms have posted a 3.7% increase in fourth-quarter profits, compared with analyst estimates of 1.3%, according to data compiled by Bloomberg Intelligence.
Geopolitical developments also remain in focus, with US President Donald Trump saying Iran had 15 days at most to reach a deal over its nuclear program.
“If conflict is imminent it is likely to be short lived,” said Barclays Plc strategists led by Emmanuel Cau, adding that equity selloffs driven by geopolitics usually present good buying opportunities.
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–With assistance from Michael Msika.
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