Europe stock markets open higher as earnings boost sentiment - CNBC

European stock markets continued positive momentum in the final session of the week, after a slew of corporate earnings beat expectations.

The pan-European Stoxx 600 index was up 0.3% shortly after the open, with construction stocks up 1.1%. Utilities led losses, down 0.6%.

European markets

The index closed slightly higher on Thursday, picking it up from a two-week low.

Despite nerves over U.S. regional bank First Republic — which is seeking a recovery strategy after its stock plunged on news it lost around 40% of its deposits in the first quarter — European bank results have proven more reassuring.

Both Deutsche Bank and Barclays beat profit expectations on Thursday. Deutsche Bank CFO James von Moltke told CNBC investors had probed it for vulnerabilities owing to wider volatility but found a "strong and profitable business model" and a "stable balance sheet and deposit base."

On Friday, British bank NatWest results showed a 37.2% annual increase in income to £1.036 billion ($1.29 billion), while its net interest margin was up 7 basis points on the prior quarter to 3.27%. However, shares in the bank fell 6.2% in early trade.

Mercedes-Benz reported a fall in year-on-year earnings but still beat forecasts. The company raised its sales outlook for vans and said car sales would come in on the high end of guidance.

Companies including AstraZeneca, Unilever and Carlsberg also beat analyst forecasts this week.

U.S. tech stocks rallied on upbeat results from Meta and Alphabet, even as figures showed the U.S. economy grew by 1.1% in the first quarter, below the 2% expected in a Dow Jones economists' survey.

U.S. futures are slightly lower Friday morning as investors pore over results from some of the country's biggest companies, including Amazon and Intel.

In Asia-Pacific, markets rose after the Bank of Japan kept its monetary policy unchanged. It was expected in the first meeting chaired by new governor Kazuo Ueda.

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