Major stock indices in Europe rose moderately on better corporate profits

European stocks trading higher as market participants digested another series of corporate reports and reacted positively to the news from Greece and Germany.

The composite index of the largest companies in the region Stoxx Europe 600 rose 0.34% - to 345.43 points.

Today euro zone officials have approved the third tranche of Greece bailout in the amount of 2.8 billion euros ($ 3 billion) after Athens completed the necessary reforms.

In addition, sentiment also improved after the publication of data showing that in October, the index of business confidence in Germany rose to the highest since April 2014, as uncertainty after Brexit declines.

Research Institute IFO said that the business climate index rose to a seasonally adjusted 110.5 from 109.5 in September, higher than the expected 109.5.

Meanwhile, Europe continues the corporate reporting season. The price of Orange shares increased by 4%. The company reported an increase in the 3rd quarter by 1.6%, to € 3.6 billion, on higher revenues in Spain and Africa, and the high demand for broadband services in France. The company's revenue increased by 0.8% to EUR 10.3 billion.

The Dutch employment agency Randstad Holdings increased its capitalization by 3.5%. The company's revenue in July-September exceeded market expectations.

The value of Luxottica Group SpA, which owns the brand Ray-Ban, rose 7,1% after the company confirmed the outlook for 2016 and announced its intention to accelerate revenue growth in the next year.

The capitalization of the French Air Liquide SA, one of the largest industrial gas suppliers the world increased by 2.2%. The company's revenue in the last quarter jumped by 27% and was at the level of analysts' forecasts.

The energy sector as a whole has grown, as the French Total SA gained 0.6% Italian ENI grew by 0.5%, while the Norwegian Statoil rose by 0.2%.

At the moment:

FTSE 7015.35 28.95 0.41%

DAX 10793.17 32.00 0.30%

CAC 4557.21 4.63 0.10%