L'Oreal Gains Cap Third Week of Declines for European Stocks [BNN Bloomberg (Canada)]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
Company Research
Source: BNN Bloomberg
L'Oreal SA rallied after better-than-expected quarterly sales. The Stoxx Europe 600 Index was little changed by the close, after earlier dropping as much as 0.9%. The index still fell more than 1% on the week. Technology stocks slumped Friday, tracking a drop in US tech stocks after a disappointing earnings report from Netflix Inc. European food and beverage and telecom stocks outperformed. L'Oreal jumped after the cosmetics maker's like-for-like sales beat expectations, quelling worries over a slowdown in the beauty market. Risk demand was dampened earlier after Israel launched a retaliatory strike on Iran less than a week after Tehran's rocket and drone barrage, according to two US officials, but Iranian media appeared to downplay the incident in the hours that followed the initial reports. “The markets, as they have done in recent months, are reacting very calmly and objectively regarding the real risk that an escalation in the Middle East could significantly affect the wor
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