23.04.201820:37:00UTC+00European Markets Advanced Amid Strong Earnings Reports

European markets climbed on Monday as investors priced in new corporate earnings and movements in the 10-year Treasury yield.

The pan-European Stoxx 600 closed provisionally 0.37 percent higher with the majority of different sectors in buy mode. In Frankfurt, the DAX 30 index rose 0.3 percent at 12,572.39, and in Paris, the CAC 40 index added 0.5 percent to 5,438.75. Spain's IBEX 35 gained 0.4 percent to 9,922.00, and the U.K.'s FTSE 100 index climbed 0.4 percent to 7,398.87.

Telecom, oil and gas and financial stocks led sector advances, while utility, consumer goods and basic materials shares declined.

The media sector was the worst performer in late morning trade, down by over one percent. That basket was not helped by news that Ford was cutting its business with advertising conglomerate WPP.

The main market driver on the day was earnings.

The manufacturing firm Rotork gained over ten percent after solid first-quarter results. Rotork soared 10.9 percent as the maker of industrial flow-control equipment posted a ten percent increase in first-quarter revenue and said it expects full-year revenue to rise on year despite a five percent currency headwind.

Swiss bank UBS posted better-than-expected first-quarter earnings with net profit up 19 percent. The shares were, however, down by 2.5 percent on Monday.

Philips also released its first-quarter earnings, with sales coming in at 3.9 billion euros ($4.79 billion). The stock rose more than five percent across the session.

Capita shares soared to the top of the Stoxx 600 climbing over 13 percent. Following heavy losses, the firm announced a £700 million pound cash call. Investors are encouraged after banks promised to scoop up any unsold new share capital.