European shares opened higher on Friday, as investors cheered a handful of strong earnings from French banks including Societe Generale and Credit Agricole, while the technology sector got a boost from Apple’s strong results and a record share buyback.
The pan-European STOXX 600 index rose 0.2% by 0712 GMT, but was set for a weekly decline, with the banks index emerging as one of the top sectoral gainers.
Societe Generale jumped 5.5% following a lower-than-expected fall in first-quarter net income, while Credit Agricole SA climbed 3.7% after a forecast-beating 55% jump in first-quarter net profit.
France’s benchmark index was up 0.2%.
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The technology sector was the top gainer, up 0.9%, boosted by Apple beating modest expectations for second-quarter results and forecast, and unveiling a record share buyback program.
Glencore fell 1.8% after Reuters reported the commodities group is studying an approach for Anglo American , a development that could spark a bidding war for the mining company, sending its shares up 2.7%.
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