European Stocks Close Higher

European stocks closed higher today, Thursday, supported by profit reports. The Stoxx 600 index rose 0.2%, achieving gains for the first time in three sessions. Shares of software company SimCorp surged 38.3% to the top of the index after the German stock exchange announced a €3.9 billion ($4.31 billion) acquisition offer for the software firm. The German stock exchange shares dropped 7.7%. Barclays shares increased by 5.3% based on quarterly earnings that exceeded estimates, as the strong performance from the consumer bank offset pressure on other main business lines. Deutsche Bank rose 2.5%, and the broader banking index added 1.1%, with the industrial goods sector gaining 1.3% after Swedish engineering company Atlas Copco's shares jumped 14.4%. Unilever's shares rose 1.4% thanks to better-than-expected core quarterly sales. Media stocks fell 1.7%, leading to a decline in the sector. STMicroelectronics lost 8.3% due to concerns over a slowdown in the semiconductor industry.