European shares jumped on Thursday helped by good-looking results from companies including insurance heavyweights Munich Re and Generali, while Societe Generale shares fell sharply.
SocGen shares were down 3.0 per cent, leading losers in Paris, after its deputy CEO Didier Valet unexpectedly quit.
Gains in the insurance sector helped jumping the pan-European STOXX 600 index by 0.2 per cent at 0844 GMT, reports Reuters.
Munich Re rose 1.4 per cent after the world’s largest reinsurer raises its 2018 profit forecasts and said it plans to buy back 1 billion euros in shares.
Generali shares rose more than 1.0 per cent after it raised its dividend following record operating profit.
Top gainer on the STOXX was British valve maker Spirax-Sarco Engineering, up 4.5 per cent after it reported better-than-expected full-year revenues and profit.
Swedish clothing firm H&M however published lower-than-expected quarterly sales and its shares lost 4.8 per cent.
Dufry shares fell 5.9 per cent after results with traders attributing the drop to a lack of clarity on its dividend plans.