Morning MoneyBeat Europe: Stocks Edge Higher, Earnings in Focus

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European stocks inched higher Friday, putting markets on course for a fourth straight session of gains.

The Stoxx Europe 600 gained 0.2% in early trade. The index had fallen sharply at the start of the week as a slump in Chinese equities spilled over into global markets, but has more than recovered those losses over the rest of the week.

U.S. markets have also rebounded. That said, stocks on Wall Street ended flat on Thursday after data showing the U.S. economy expanded at a slower pace than expected in the second quarter.

The Shanghai Composite Index fell again on Friday, closing out its worst month in over two years.

But investors in Europe shrugged off the latest decline, instead focusing on the latest batch of earnings reports.

Among companies on the Stoxx Europe 600 that have so far reported second-quarter results, 54% have exceeded profit expectations, according to FactSet data. That compares with 50% in the first quarter.

Read our full take on the European markets today here.

-- Tommy Stubbington

Market Snapshot: At 7.40 a.m. GMT, FTSE 100 up 0.13%, CAC 40 up 0.54% and DAX up 0.21%. Nikkei finished Friday up 0.3%. Brent crude down 1% at $52.78. Gold down 0.71% at $1081. EUR/USD flat at $1.0928. Ten-year Treasury yield up at 2.26%, Bund yield lower at 0.60%, Gilt yield lower at 1.97%.

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