Europe stocks close higher amid US bank earnings; Nokia falls 4% on Goldman downgrade


The pan-European Stoxx 600 index closed provisionally up more than 0.1%, with most sectors and major bourses in positive territory.

Looking at individual stocks, Norsk Hydro shares rose by over 3% after the Norwegian aluminum maker and Brazil’s public prosecutor asked a federal court to lift a production embargo in the country. Hydro’s Alunorte alumina refinery has been operating at half capacity since a spill last year that led authorities to restrict output.

Meanwhile, French advertising group Publicis‘ shares rose after news of a $4.4 billion takeover of marketing and data company Epsilon. The firm also released first-quarter results, reporting a rise in revenue and confirming its outlook for 2019. The stock was up 1.5%.

On the other end, Nokia dropped almost 4% following a downgrade from Goldman Sachs. Analysts at the bank said the Finnish telecommunications firm was faces downside risks amid increasing competition from Ericsson and Samsung.

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