European Stocks Surge with Key Earnings Reports

The STOXX 600 index in Europe rose, driven by gains in energy, technology, and telecom sectors. Notable performances included Deutsche Telekom and ASML, both posting strong growth forecasts. Italian bank Monte dei Paschi di Siena saw a significant jump after a partial stake sale. Further economic data from the ECB was pending.

On Thursday, Europe's STOXX 600 index experienced a notable rise at the market's opening, boosted by strong performances in the energy and technology sectors. This upward trend was fueled by positive earnings that bolstered investor confidence in the benchmark.

Despite hovering near its three-week low, the STOXX 600 index climbed 0.3% by 0813 GMT. Among the sub-sectors, telecoms showed vibrant activity, gaining 0.8%, while energy stocks, a heavyweight sector, improved by 1%. Deutsche Telekom led the charge with a 2.6% increase after upgrading its annual profit forecast.

Additionally, the tech behemoth ASML saw a 2.9% rise, projecting significant sales growth in the coming years. In banking, Monte dei Paschi di Siena soared 9.5% following Italy's sale of a 15% stake to Banco BPM. Meanwhile, Siemens' shares ascended 5.8% post beating profit projections. Investors awaited further announcements from the European Central Bank's October policy meeting, and fresh euro-zone employment and GDP data.

(With inputs from agencies.)