European stocks closed slightly higher on Friday amid mixed corporate earnings, while markets assessed the outlook on European growth and rates. The STOXX 50 inched up to 5,674 and the STOXX 600 rose 0.2% to a record close of 575. Sanofi advanced 3% on a Q3 profit beat and Saab surged 6% after raising its full-year organic sales forecast. Also, NatWest jumped 5% on higher Q3 profits and an upgraded performance target. Additionally, ENI jumped nearly 2% after delivering its results. On the other hand, Safran dropped 1.4% despite beating analysts’ earnings consensus. Meanwhile, auto manufacturers and consumer discretionary companies booked gains as softer-than-expected inflation in the United States drove yields across Europe to drop. On the macroeconomic front, the Eurozone’s PMI was better than expected to reflect some traction in economic activity. On the week, the STOXX 50 gained 1.2% and the STOXX 600 gained 1.6%.
