European stock markets mid session: stocks climbed due to the better-than-expected earnings reports

European stocks climbed due to the better-than-expected earnings reports. Market participants were unimpressed by the worse-than expected Spanish unemployment rate. Spain’s unemployment rate rose to 25.9% in the first quarter from 25.7% in the fourth quarter of 2013. The fourth quarter figure was revised down from 26.0%. Analysts forecasted the fall to 25.6%.

Nordea Bank AB shares jumped 3.2% due to its revenue increased 4.7% in the first quarter.

Statoil ASA was up 4.0% after beating its earnings forecast.

Nokia Oyj climbed 7.1 percent after naming a new chief executive officer.

PSA Peugeot Citroen dropped 5.57% after offering stock to investors at 6.77 euros a share.

ABB Ltd. shares - the world’s largest maker of power transformers - declined 6.9% after reporting the 18% fall of its first-quarter net income.

Current figures:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,744.58                              +44.42                     +0.66%

DAX                                      9,555.4                              +109.04                     +1.15%

CAC 40                                 4,481.92                              +21.39                     +0.48%