European stocks on the rebound

By IVCPOST Staff Reporter

Jul 24, 2013 07:22 AM EDT

European stocks have rebounded, with Volvo and EasyJet leading the top gainers. The world's largest truckmaker, Volvo, posted a gain of 3.1% as its quarterly operating profits trumped initial estimates. Financial reports released by EasyJet revealed its quarterly sales have risen to 11%. Increased capacity utilization and revenues enabled the British airline company to gain 5.3%. The story for crop chemicals maker Syngenta was not as rosy, however. Stocks fell 3.9 percent after earnings and revenues for the first half of the year did not perform as expected.

The rebound of the stocks is seen as a surprise by some financial experts like Michael Woischneck of Lampe Asset Management based in Germany. In an interview with Bloomberg, he said, "Companies are holding up quite well and guidance from CEOs seem to show they are confident with their road maps ahead. I'm not saying I expect the next big boom in Europe, but there are signs that the economy is not getting worse."  

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