European stocks inch up after mixed earnings

(Reuters) -European stocks inched up on Thursday as investors digested mixed corporate results following a rocky few sessions marked by concerns about tariffs and still a largely positive start to the earnings season.

The pan-European STOXX 600 index was up 0.06% by 0718 GMT, with the travel and leisure sector offsetting gains in food and beverage stocks.

Nestle climbed 7.59% after the world’s largest packaged food company reported better-than-expected sales growth and new CEO Philipp Navratil announced job cuts of 16,000.

French spirits maker Pernod Ricard dipped 0.77% after it reported a well-flagged 7.6% fall in first quarter sales, due to weak consumer demand and destocking in China and the United States.

In the UK, Whitbread dropped 7.1% after the hotel and restaurant operator posted a 7% drop in half-year profit due to lower food and beverage sales.

Franco-German lab supplies maker Sartorius and its French unit Sartorius Stedim Biotech jumped 9.3% and 11.3%, respectively, after the companies issued quarterly results and forecasts.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Mrigank Dhaniwala)