European markets edge higher amid earnings; Ses shares surge 10%

The pan-European Stoxx 600 edged up around 0.1 percent during mid-morning deals, with most sectors and major bourses in positive territory.

Europe’s technology stocks led the gains, up over 1 percent amid earnings news. Consultancy giant Capgemini was the top sectoral performer after it reported upbeat first-quarter figures. Kepler Chevreux then raised its target price for the stock to 116 euros from 112 euros. Shares of Capgemini were up more than 5 percent on the news.

Meanwhile, banks stocks were off around 0.4 percent on Friday morning. RBS reported stronger-than-anticipated first-quarter earnings shortly before the opening bell, though shares slipped 2 percent amid news the Edinburgh-headquartered lender is awaiting a multi-billion dollar fine from the Department of Justice.

Looking at individual stocks, Electrolux posted a surprise fall in first-quarter core operating profit on Friday. The Swedish firm also issued a warning on raw material costs over the coming months. Shares of Europe’s largest home appliances maker were off over 11 percent.

Elsewhere, French firm Ses rose to the top of the European benchmark on Friday morning, soaring 10 percent higher after a first-quarter earnings beat.

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