Europe markets: Daimler lifts Dax, Nokia tanks

A steady climb for Mercedes maker Daimler on Thursday ...

Helped carry Germany's DAX to a 16-month high.

Operating profits were up 8 per cent in Q3, the auto giant reported.

And though it warned of cost cuts and of legal provisions over diesel litigation ...

Its own shares had soon added 5 per cent.

Among other big risers: Astra Zeneca added over three per cent ...

After reporting a surge in revenue from new cancer drugs - and solid growth in China.

And Norwegian Air: it gained a massive 20 per cent on positive earnings and news of an Airbus fleet deal.

But there was also a 20 per cent share price dive on Thursday - for Nokia.

The telecom network equipment maker slashed forecasts - while warning of pressure from rivals in the fast-growing 5G networks business.

Operating income at global chemicals giant BASF, meanwhile, fell 24 per cent in Q3 as trade tensions bit deeper - though its shares still rose.

But Royal Bank of Scotland was down 2 per cent on news that weakness at its NatWest Markets division - and another mis-selling charge ...

Had tipped it back into a loss.

All in all, though, Europe's bourses enjoyed a positive start - with gains mid-morning of around half a per cent ...

While shaking off the day's big data news: the latest key PMI readings for the euro zone.

At 50.2, the composite number was only just above the break-even point for growth.

At 45.7, its manufacturing sector is - the survey suggests - stuck in recession.