European stocks climbed after results from Nokia Oyj and Danone to Fiat SpA topped estimates, offsetting disappointing earnings at Credit Suisse Group AG. U.S. futures climbed, while Asian shares were little changed. Nokia rallied the most since January as the world’s biggest maker of mobile phones also raised its industry forecasts. Danone climbed 3.9 percent after third-quarter sales jumped 15 percent. Fiat SpA surged 4 as the automaker also raised its 2010 predictions. Credit Suisse limited gains after the Swiss bank posted profit and trading revenue that missed analysts’ estimates. GlaxoSmithKline Plc fell 2.2 percent as earnings were little changed. The benchmark Stoxx Europe 600 Index rose 0.5 percent to 267.45 at 1:22 p.m. in London, extending yesterday’s 0.3 percent gain. The gauge has climbed 3 percent this month amid speculation that slowing economic growth will prompt the U.S. Federal Reserve to announce another round of asset purchases at its November meeting to bolster the economic recovery. “Generally the numbers are surprising positively and are being taken well by the market,” said London-based Andrea Williams, who helps manage about $1.1 billion at Royal London Asset Management. “We are seeing a split between relative sectors; those companies that are cautiously optimistic are being punished.” Standard & Poor’s 500 Index futures rose 0.5 percent after U.S. benchmark indexes rallied the most in two weeks yesterday on higher-than-estimated results at Boeing Co. and Yahoo! Inc. The MSCI Asia Pacific Index rose less than 0.1 percent even as China’s economy grew at the slowest pace in a year. Beaten Estimates Of the 35 companies in the Stoxx 600 that have announced results since Oct. 7, 23 have beaten analyst estimates for per- share income, according to data compiled by Bloomberg. In the U.S., 73 of the 85 S&P 500 companies that have announced results this earnings season have topped predictions, the data show. EBay Inc. rallied 6.9 percent in Germany after the owner of the second-most visited e-commerce site forecast better-than- estimated sales and earnings. Forty-six S&P 500 companies including Caterpillar Inc. and Freeport-McMoRan Copper & Gold Inc. are scheduled to report earnings today. Nokia jumped 7.1 percent to 8.27 euros after third-quarter profit beat analysts’ estimates and the mobile phone maker announced 1,800 job cuts globally. In the first results since naming Stephen Elop chief executive officer, Nokia reported net income of 529 million euros ($740 million) and sales of 10.3 billion euros. Analysts predicted profit of 182.5 million euros on sales of 9.99 billion euros, according to the average estimate in a Bloomberg survey. Danone, Fiat Danone rose 3.9 percent to 45.08 euros. The world’s biggest yogurt maker reported a 15 percent jump in third-quarter sales to 4.35 billion euros ($6 billion) as it sold more Activia yogurt and Aqua water in markets such as the U.S. and Indonesia. That beat the 4.24 billion-euro median of analysts’ estimates. Fiat climbed 4 percent to 12.19 euros as the Italian automaker raised its 2010 earnings forecasts to at least 2 billion euros, up from a previous prediction of 1.2 billion euros. The company posted quarterly profit of 170 million euros beating analysts’ estimates on sales of Iveco trucks and Case New Holland tractors. Pernod-Ricard rallied 6.4 percent to 65.47 euros after the maker of Absolut vodka said first-quarter sales growth beat estimates, driven by demand in emerging markets. Double Estimate So-called organic sales, which exclude the effect of acquisitions or disposals and currency swings, advanced 10 percent in the three months to Sept. 30. That was more than double the 4.5 percent median growth estimate of eight analysts surveyed by Bloomberg News. Britvic Plc climbed 5.7 percent to 497.2 pence after the maker of Tango soda and Robinson’s fruit drinks reported a 33 percent increase in fourth-quarter revenue and announced plans to restructure its Irish operations. In Stockholm, Swedbank AB rallied 6.4 percent to 99.30 kronor after the largest lender in the Baltic countries posted a profit of 2.59 billion kronor ($389 million) in the third quarter, beating analysts’ average estimate of 1.52 billion kronor. Loan losses narrowed to 120 million kronor from 6.12 billion kronor. Konecranes Oyj jumped 6.5 percent to 29.85 euros in Helsinki after the world’s biggest supplier of industrial cranes reported third-quarter net income of 23.1 million euros, beating analysts’ estimates. Trading Revenue Credit Suisse fell 2 percent to 42.59 Swiss francs after Switzerland’s second-largest bank reported a 74 percent decline in third-quarter profit to 609 million francs ($630 million) as lower client activity curbed trading revenue. Earnings missed the 861 million-franc median estimate of 11 analysts surveyed by Bloomberg. Trading revenue slumped 41 percent to 2.54 billion francs, also missing analysts’ forecast for about 3 billion francs. GlaxoSmithKline, the U.K.’s largest drugmaker, fell 2.2 percent to 1,263 pence. The company said third-quarter profit showed little change, held back by one-time costs tied to the Avandia diabetes treatment and a drop in demand for pandemic flu vaccines. Actelion Ltd. lost 4.4 percent to 49.74 francs after Chief Executive Officer Jean-Paul Clozel said the drugmaker’s “future is to remain independent.” The shares have soared 32 percent this month amid takeover speculation. The company, which today reported a 3 percent decline in net income to 105.3 million francs, also said non-GAAP operating profit is likely to be below this year’s level. TUI Travel Plc lost 10 percent to 207.4 pence, the biggest drop in the Stoxx 600, after Europe’s largest tour operator restated figures for the 2009 fiscal year and agreed to the departure of Chief Financial Officer Paul Bowtell. To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net. To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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