European shares rise as investors focus on earnings
July 18 (Reuters) - European shares rose on Friday, on course for small weekly gains, as investors focussed on corporate earnings for clues on the impact of U.S. tariff policies on businesses.
The pan-European STOXX 600 index .STOXX rose 0.3% to 548.84 points, as of 0731 GMT, and was on track for a second weekly gain.
Other major regional indexes, including the German DAX .GDAXI, France's CAC 40 .FCHI and Britain's FTSE 100 .FTSE also rose modestly.
Wall Street indexes touched record highs on Thursday after strong economic data and earnings reports showed American consumers remained willing to spend. .N
Swedish defence material maker Saab SAABb.ST jumped 12.7%, the top gainer in the STOXX 600, after it posted higher-than-expected second-quarter earnings and raised its sales outlook.
Vestas Wind Systems VWS.CO gained 8.8% after J.P. Morgan upgraded the Danish wind turbine maker to "overweight" from "neutral".
On the flip side, GSK GSK.L fell more than 6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep.
Swedish home appliances maker Electrolux ELUXb.ST slumped 14.6% after poor second-quarter performance in Europe and India's Reliance Industries RELI.NS said its retail unit acquired home appliance maker Kelvinator from Electrolux.
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