European indices rise as investors follow economic data

European indices rose at the start of today’s trading session as investors followed corporate earnings for the second quarter of this year, as well as economic data.

The STOXX 600 index rose 0.6% to 545 points, while the British FTSE rose 0.3% to 8,954 points. The German DAX rose 1% to 24,238 points, while the French CAC 40 rose 0.3% to 8,952 points.

Pharmaceutical company Novartis announced its second-quarter results, which exceeded analysts’ expectations, achieving a 26% increase in net profit to $4.02 billion, compared to expectations of $3.72 billion.

The company also announced a $10 billion share buyback program, with expectations of completion by 2027.