Europe opens higher ahead of ECB decision – CNBC

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One of Europe’s top performers in morning trade was Volkswagen, up 6 percent, following reports that it had reached a deal with U.S. authorities to settle the case over its cheating of diesel emissions tests, involving a payment of $5,000 to each customer impacted, according to the Die Welt newspaper. VW-owned Porsche was sharply higher on the back of this,

Luxury brand Hugo Boss was off more than 3 percent, after RBC cut its price target on the stock.

At the bottom of markets was Ericsson, after the telecom equipment maker revealed that first-quarter sales had decreased by 2 percent year-on-year, due to a “weak macroeconomic environment”. Shares sunk 8 percent.

Elsewhere in earnings, Pernod Ricard also tumbled, off 4 percent after the drinks maker reported third-quarter sales had failed to meet expectations. The company said its innovation was accelerating, however China’s challenging environment continued to weigh on the firm, who said it was “working actively to develop the new phase of growth” in the region.

Dassault Systemes proposed a 9 percent increase in its annual dividend for the 2015 fiscal year, while revenue for the first quarter came in at 693.5 million euros ($783.5 million). Shares however sunk 4.5 percent.

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Europe opens higher ahead of ECB decision – CNBC