Nokia and Anheuser-Busch InBev rally, while Volkswagen and Royal Dutch Shell slump after results – MarketWatch

Nokia and Anheuser-Busch InBev rally, while Volkswagen and Royal Dutch Shell slump after results – MarketWatch

It was a day of diverging fortunes in European stocks on Thursday, as corporate results buoyed shares of Nokia and Anheuser-Busch InBev, while Volkswagen and Royal Dutch Shell traded lower.

Nokia
NOKIA,
-1.07%

NOK,
-2.41%
shares rose 4% as the Finnish telecom equipment maker reported third-quarter adjusted earnings ahead of estimates, and said operating margins for the year will come in at the upper half of expectations.

Anheuser-Busch InBev
ABI,
-3.10%

BUD,
-2.09%
gained 7% as the brewer reported a surprise rise in third-quarter organic operating profit as volumes rose 3.4%, driven by demand in Mexico, Colombia and Brazil. It also nudged higher its annual profit guidance.

Airbus
AIR,
-1.25%
rose after the plane maker lifted its financial targets for the year.

Volkswagen
VOW3,
-0.49%
slipped 3% as the world’s number-two automaker by volume missed expectations, hurt by the familiar story of the microchip shortage.

Royal Dutch Shell
RDSB,
-1.27%

RDS.B,
-2.96%
slipped 3% after missing third-quarter earnings estimates, setting an emissions reduction target, and being the target of a break-up call by Daniel Loeb’s Third Point investment firm.

The Stoxx Europe 600
SXXP,
+0.07%
was little moved at 474.12, ahead of a European Central Bank decision and U.S. gross domestic product data.

U.S. stock futures
ES00,
+0.33%
inched higher.

Source: https://www.marketwatch.com/story/nokia-and-anheuser-busch-inbev-rally-while-volkswagen-and-royal-dutch-shell-slump-after-results-11635411726