Publicis and Hermes boost European stocks

  European stock market gains were helped by gains results with good results in the second quarter of Publicis Groupe, the advertising agency and luxury goods maker Hermes International.

Publicis, the third largest advertising agency in the world, reported operating profit by 11.6 percent to € 462 million increase due to growth in North America and digital advertising.

The results of the French company beat forecasts and it caused him to put his advice in a year at the upper end of its previously announced between 3.2 and a 3.6 percent organic growth.

The results of the Publicis had a positive impact on the domestic rival Havas, which rose 3.4 percent to € 59.80.

Hermes has also raised its full-year targets after reporting better than expected in the second quarter, where sales rose by 15.3 percent.

Paris shares machine-sized watches and silk and leather accessories rose 4.5 percent to € 262.45.

First Euro FTSE 300 rose 0.9 percent to 1,209.12 by the weight of the advance from the banking sector.

Nordea, the third largest lender Sweden reported results beat forecasts Wednesday, has increased by 4.1 percent while domestic peers SKr81.20 Swedbank won 3.4 percent to SKr154.10.

UBS reiterated its buy recommendation on Nordea and raised the price target to SKr87 to SKr86, highlighting the strong pace of recovery of the capital.

French lenders rebounded sharply on reports that the government is willing billion euros in savings was transferred guaranteed by the state banks.

Francois Hollande, the President of France, invited the heads of the banks to a meeting on Friday.

Crédit Agricole leads the Euro First, climbing 5.3 per cent to € 7.12, while Societe Generale added 4.3 percent to € 29.12.

Italian banks also fared well, helping the FTSE MIB outperform their European counterparts by 2.3 percent to 16,053.61.

UniCredit gained 4.3 per cent to € 3.77, while Intesa Sanpaolo rose 3.7 per cent to € 1.32.

Orkla, the Norwegian group of consumer brands was the biggest faller, with 10.8 percent NKr46.78 after its second quarter results missed forecasts while Nokia fell 2.8 per cent to € 3.01 after failing so many mobile phones ship as expected.