EUROPE MARKETS: European Stocks Rebound With Earnings In Focus

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- Stock markets posted firm gains across Europe on Tuesday, with a round of solid earnings report helping boost the mood after the recent selloff.

The advances came following a turbulent trading day on Monday, when the major benchmarks all closed with sharp losses. Last week, many indexes also slumped to one-year lows amid concerns the eurozone could slip back into recession after Germany showed renewed signs of economic weakness.

Tuesday's market reaction: The Stoxx Europe 600 index gained 0.5% to 318.56, almost bringing it into positive territory for the week.

Germany's DAX 30 index added 0.6% to 8,768.80, while France's CAC 40 index rose 0.7% to 4,017.68. The U.K.'s FTSE 100 index picked up 0.4% to 6,289.35.

Earnings boost: Several companies rallied in Europe on Tuesday after reporting quarterly earnings. Swiss biotech company Actelion Ltd. jumped 6.5% after it said strong sales of a new drug helped lift earnings in the third quarter, prompting an upgrade to its full-year guidance.

Akzo Nobel NV climbed 5.1% after the Dutch painting and chemicals company said profits rose 32% in the third quarter.

ASOS PLC surged 18% after the online fashion retailer reported a 27% rise in full year retail sales.

Swedbank AB put on 3.1% after the bank reported better-than-expected third-quarter earnings.

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